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Welcome to "No Fear Equity," a series simplifying startup equity and fundraising. Sophia Sang introduces Startup Lawyer Mike LaPlate to explain a Series A term sheet. Understanding legal jargon can be challenging. Mike, with experience in thousands of startups, breaks down key elements: free money valuation, raising $5 million, liquidation preferences, board seat rights, information rights, and anti-dilution provisions. This information is crucial for startups entering a price round. Let's delve into the importance of series A term sheets.