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Welcome to No Fear Equity, a series that simplifies startup equity and fundraising. Sophia Sang brings in startup lawyer Mike LaPlante to discuss a term sheet for a price round. Understanding legal language can be challenging, but Mike is here to help. He highlights the importance of a stated free money valuation in your terms when raising funds. Mike's expertise in working with thousands of startups allows him to break down all the essential parts of a series A term sheet. Let's dive in.