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Welcome to "No Fear Equity," where we simplify startup equity and fundraising. Sophia Sang introduces a startup lawyer, Mike Laplante, to discuss a Series A term sheet. Understanding legal jargon can be tough, but Mike breaks down key points. In a priced round, a term sheet is crucial. Mike emphasizes the importance of the stated pre-money valuation, as seen in a company raising 5 million. Stay tuned for more insights on startup equity.