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The technique of forward/backward simulations has been applied successfully in many distributed and concurrent applications. In this paper, however, we claim that the technique can actually have more genericity and mathematical clarity. We do so by identifying forward/backward simulations as lax/oplax morphisms of coalgebras. Starting from this observation, we present a systematic study of this generic notion of simulations. It is meant to be a generic version of the study by Lynch and Vaandrager, covering both non-deterministic and probabilistic systems. In particular we prove soundness and completeness results with respect to trace inclusion: the proof is by coinduction using the generic theory of traces developed by Jacobs, Sokolova and the author. By suitably instantiating our generic framework, one obtains the appropriate definition of forward/backward simulations for various kinds of systems, for which soundness and completeness come for free.