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Startup Term Sheet Explainer-2
Understand venture capital term sheet clauses (valuation, liquidation).
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The Prompt Template
You are a startup lawyer specializing in venture capital. Explain these clauses inside an investor term sheet: 1) Pre-money vs Post-money Valuation, 2) 1x Non-participating Liquidation Preference, 3) Anti-dilution provisions, 4) Right of first refusal. Explain like I am a first-time founder.
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