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Welcome to "No Fear Equity," a series breaking down startup equity and fundraising in easy terms. Sophia Sang introduces startup lawyer Mike Laplate to explain term sheets for a price round. Understanding legal language is crucial, and Laplate, with years of experience, guides through the key parts of a Series A term sheet. Key concept: a stated pre-money valuation is crucial for startups raising funds, like this company aiming for $5 million.
