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Welcome to "No Fear Equity," a series simplifying startup equity and fundraising. Sophia Sang introduces Mike Laplante, a startup lawyer, to explain a Series A term sheet. Understanding legal jargon can be challenging, but with expert help, it becomes manageable. Mike, a trusted attorney, breaks down key elements of a term sheet. One crucial aspect is the stated pre-money valuation, such as the company raising 5 million. Let's explore the intricacies of a Series A term sheet together.