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Welcome to "No Fear Equity," where startup equity and fundraising are simplified. Sophia Sang introduces Mike LaPlante, a startup lawyer, to explain a series A term sheet. If you're raising a price round, understanding the legal language in the term sheet is crucial. Mike, a respected attorney at Perkins Coie, is here to guide us through the vital components. One key aspect is the stated pre-money valuation, with this company seeking to raise 5 million. Let's dive into the details.