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In this section, Michele explains the term "indemnification," often encountered in contracts, settlements, or business separations. To indemnify someone means to protect or "cover their back," ensuring responsibility for any claims made against them related to a specific circumstance or product. It's crucial to clearly define the context and limits of indemnification—understanding what exactly one is being indemnified against, particularly in cases where issues may arise. The discussion emphasizes the importance of clarity in these agreements to avoid misunderstandings about responsibilities.
