A. In legal matters, a release and waiver usually go hand in hand. A release relieves the party being released from any responsibility or liability which they may otherwise have towards the releasing party. A waiver is a written acknowledgement that a party agrees to give up a claim or right which it has by law (such as the right to seek damages) in exchange for some sort of compensation or consideration.
A. An indemnity (also called a hold harmless clause) is a written covenant or promise by one party which is given to protect another party against liability as a result of the first party's actions. For instance, Party A grants Party B a license to use its technology to create new products. In return for this license, Party B indemnifies Party A against any damages or costs that may result if Party B infringes on the intellectual property rights of other parties while using Party A's technology.