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Welcome to "No Fear Equity," a series focused on understanding startup equity and fundraising. Hosted by Sophia Sang, today’s episode features startup attorney Mike Laplate from Perkins Coie, who will explain a Series A term sheet. Raising a priced round involves navigating complex legal language within a term sheet, which is crucial for understanding funding terms. Mike, with extensive experience working with startups, aims to clarify the significant elements of a Series A term sheet. The episode emphasizes recognizing the stated pre-money valuation, as the company being discussed is raising $5 million.