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Welcome to No Fear Equity, a series dedicated to explaining startup equity and fundraising in simple terms. In this episode, Sophia Sang is joined by startup lawyer Mike LaPlate to discuss a series A term sheet. Understanding legal jargon can be challenging, but Mike, an experienced attorney, is here to help. The term sheet for a price round is essential, as it includes the free money valuation. This company is seeking to raise $5 million, and Mike will explain all the key components of the term sheet. Let's dive in and learn from a trusted expert in the field.