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Welcome to No Fear Equity, a series breaking down startup equity and fundraising in simple terms. Sophia Sang introduces Mike LaPlante, a startup lawyer, to discuss a series A term sheet. Understanding term sheets is crucial for raising a price round, despite legal jargon. Mike, a trusted attorney at Perkins Coie, has experience working with numerous startups and will guide us through the key components of a series A term sheet. Essential points include the stated free money valuation in your terms, with this company raising $5 million. Let's delve into it with Mike's expertise.