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This lecture covers the proof of theorem 4.5, focusing on part 5, which states that the intersection multiplicity of two curves at a point is the product of their multiplicities if and only if they have no tangent lines in common at that point. The lecture goes through the definition of intersection multiplicity, the diagrammatic representation, and the implications of the theorem. The instructor emphasizes the importance of understanding the absence of common tangent lines for the equality condition to hold.