And so we see that the Michael is constant is approximately equal to K minus one divided by K, assuming that K two is much smaller than K minus one. And this is where we give meaning to the Michael's constant. What this basically means is the Km value. The Michaelis constant describes the equilibrium dissociation constant of the dissociation of the enzyme substrate complex back into the enzyme and the substrate. So in such a case, Km describes the equilibrium constant of the enzyme substrate complex dissociation. And to see why that's so, let's take a look at this equation.