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In this tutorial, Michele discusses the term "indemnification." She explains that indemnification often arises in contexts such as contracts, settlements, or business separations. To indemnify someone means to provide protection, commonly understood as "covering their back." It involves taking responsibility for any claims made against a person related to a specific circumstance, product, or service. Michele emphasizes the importance of clearly defining what you are indemnifying against, particularly if something goes wrong. This understanding is crucial for ensuring that all parties are aware of their responsibilities in the indemnification process.
