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In this episode of "No Fear Equity," hosted by Sophia Sang, the complexities of startup equity and fundraising are simplified. A startup lawyer, Mike Laplate from Perkins Coie, joins to explain the elements of a Series A term sheet, essential for companies raising a priced round. The discussion emphasizes the importance of understanding the legal language within the term sheet. Key aspects include the stated free money valuation, with a specific example of a company aiming to raise $5 million. Mike's extensive experience with startups positions him to clarify critical components for viewers.