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Welcome to No Fear Equity, a series that simplifies startup equity and fundraising terms. Sophia Sang introduces Mike Laplante, a startup lawyer, to explain term sheets. Term sheets are crucial for price rounds, but understanding legal jargon can be challenging. Mike, an experienced attorney at Perkins Coie, breaks down the key components of a series A term sheet. One important aspect is the stated free money valuation of $5 million.
