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In this video tutorial, Michele discusses the term "indemnification," explaining its relevance in contexts such as contracts, settlements, and business separations. To indemnify someone means to protect them from claims or liabilities arising from specific circumstances, such as the sale of a product. Michele emphasizes the importance of clearly understanding what is being indemnified against, ensuring that responsibilities are well-defined. Indemnification serves to "cover someone's back," indicating that one party will take responsibility for any issues that may arise related to the agreement or transaction in question.
