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In this segment, Michele introduces the concept of indemnification, explaining its relevance in contractual agreements, settlements, and business separations. To indemnify someone means to protect or cover them against claims related to a particular circumstance or product involved in a transaction. Michele emphasizes the importance of clearly defining the scope of indemnification, specifying what claims or issues the indemnitor is responsible for should any problems arise. Understanding this term is crucial in ensuring that all parties are aware of their responsibilities and the protections in place.
