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In this segment, Michele discusses the term "indemnification," which often arises in contexts such as contracts, settlements, or business separations. To indemnify someone means to protect or "cover their back" from any claims that may arise concerning a specific situation or product being sold. It involves taking responsibility for potential liabilities. Michele emphasizes the importance of clearly defining the scope of indemnification—what exactly you are indemnifying against—especially in cases where issues may occur. Understanding this concept is crucial in various business transactions.
