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In this segment, Michele discusses the term "indemnification," which is often encountered when signing contracts, making settlements, or in business separations. Indemnification involves one party agreeing to protect another by covering potential claims arising from specific circumstances, such as a product sale. Essentially, to indemnify means to take responsibility for any claims against the other party, ensuring they are "covered" in case something goes wrong. It's crucial to clarify what exactly is being indemnified against to avoid misunderstandings.