Contracts
Indemnity
A promise in a contract to cover the other side's losses if a particular thing happens, such as a claim that your software infringes someone else's rights.
A plain-English explanation of how this usually works, not legal advice. Rules differ between countries and change over time, so check your own situation. Disclaimer.
You'll hear it as
They want an uncapped indemnity for IP claims.
Why it matters to you.
An indemnity can sit outside the liability cap. Uncapped ones are where serious money is at risk, so lawyers fight over them.
Related terms.
Videos.
No video mentions Indemnity by name yet. These are on the same topic, Business & startups.