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Welcome to "No Fear Equity," a series that simplifies startup equity and fundraising. Hosted by Sophia Sang, this episode features startup attorney Mike Laplate from Perkins Coie, who will help clarify a Series A term sheet. Understanding a term sheet is essential when raising a priced round, but it often involves complex legal terminology. Mike, with extensive experience in assisting startups, will break down the critical components of a Series A term sheet. The episode highlights the significance of the stated pre-money valuation, using an example of a company raising $5 million. The session aims to empower entrepreneurs by making the nuances of fundraising more accessible.