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Semileptonic B decays provide a clean environment for precision measurements of CKM Matrix Elements, as well as searches for New Physics. In this talk, I will discuss analytic properties of the hadronic matrix elements underlying semileptonic decays, starting from the simplest case of 1 -> 1 transitions and then generalizing to the phenomenologically most interesting case of 1 -> 2 decays. Finally I will discuss the advantages of semileptonic decays to study hadronic dynamics and resonance properties, thus shifting the focus from the weak, leptonic, part of the decay, to the strong, hadronic, final state interactions.