Final answer:
The corpus luteum, formed after ovulation in the ovaries, produces key hormones like progesterone and estrogen, which are critical for preparing and maintaining the uterine lining for potential pregnancy and regulating the menstrual cycle.
Step-by-step explanation:
The corpus luteum is an endocrine tissue that forms in the ovaries from an ovarian follicle following ovulation. It is vital for reproductive health as it secretes significant hormones such as progesterone and some estrogen. Progesterone is instrumental in preparing and maintaining the uterine lining, making it suitable to support a potential pregnancy. Its role includes the regrowth of the endometrium and suppression of further ovulation by inhibiting the release of follicle-stimulating hormone (FSH) and luteinizing hormone (LH). Should fertilization occur, the presence of estrogen and progesterone supports the pregnancy, whereas if fertilization does not take place, the corpus luteum degrades, leading to a decrease in progesterone levels, and the endometrium is shed, marking the start of a new menstrual cycle.