indemnification

Definition

A contractual obligation to compensate someone for harm or loss, essentially agreeing to take the financial hit if something goes wrong. It's the corporate version of "I've got your back," except written by lawyers and far less reassuring.

Example Usage

The contract included an indemnification clause requiring the vendor to cover any losses resulting from their defective products.

Origin

From Latin 'indemnis,' meaning 'unharmed,' through Old French into English legal usage in the 17th century

Fun Fact

Indemnification clauses are often the most heavily negotiated provisions in commercial contracts, with both sides trying to shift potential liability to the other party.

Source: Common legal terminology

Related Terms

Advanced

amici

Short for 'amici curiae' or 'friends of the court,' these are non-parties who submit briefs to educate judges on issues they might otherwise misunderstand. Think of them as legal kibitzers with credentials. Organizations love filing these to influence landmark cases without actually being sued, making them the ultimate courtroom sideline commentators.

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limited liability

A legal structure where business owners aren't personally responsible for company debts or liabilities beyond their investment. It's what allows entrepreneurs to take risks without fearing they'll lose their house when the startup fails.

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certiorari

A writ from a higher court agreeing to review a lower court's decision, most famously used when the Supreme Court decides your case is interesting enough to warrant their attention. It's the legal equivalent of getting picked from the audience.

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amicus

Short for "amicus curiae" (friend of the court), this is a busybody who isn't even part of the lawsuit but still submits their two cents via a legal brief. Think of them as the legal equivalent of someone butting into a conversation they weren't invited to—except courts actually welcome these know-it-alls when they provide helpful expertise or perspectives the parties might have missed.

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equitable relief

A court remedy that doesn't involve money damages, such as injunctions, specific performance, or rescission. It's what you seek when throwing money at the problem won't fix it, and you need the court to actually make someone do (or stop doing) something.

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counsel

The fancy legal term for a lawyer or attorney, used to make the profession sound more dignified. Can also refer to the advice lawyers give, which is ironic since you're paying $500/hour for "counsel." In court, addressing someone as "counsel" instead of "lawyer" is the professional equivalent of using someone's full title.

⚖️ Legal

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like I give a flying f**k...