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Welcome to "No Fear Equity", a series that simplifies startup equity and fundraising. Sophia Sang introduces a startup lawyer to dissect a Series A term sheet. Raising a price round requires understanding legal jargon, but with the help of Mike Laplante, a trusted startup attorney, the key components of a term sheet are explained. The term sheet will include a stated pre-money valuation, with the specific company in this case raising $5 million.