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In this episode of "No Fear Equity," host Sophia Sang introduces startup attorney Mike LaPlate from Perkins Coie to explain Series A term sheets for startups. They discuss the complexities of understanding term sheets due to their legal language, which is essential if you're raising a priced round. Mike, who has extensive experience with startups, will help clarify important elements of the term sheet. The discussion emphasizes that a key component is the stated pre-money valuation, highlighting that the company is seeking to raise $5 million. The session aims to make this intricate topic more accessible for entrepreneurs.