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In this episode of "No Fear Equity," host Sophia Sang introduces startup attorney Mike Laplate from Perkins Coie to explain Series A term sheets, which can be complex due to legal jargon. The focus is on understanding crucial elements of a term sheet when raising a priced round of funding. Mike, who has extensive experience with startups, will help clarify important sections of the term sheet. The discussion highlights that a free money valuation will be stated in the terms, with the company in question seeking to raise $5 million. The aim is to simplify these concepts for better comprehension in startup fundraising.