Startup funding and term sheets explained: If you're raising a priced round of funding (like a Series A), you'll have to evaluate an investor term sheet. But how does a term sheet work? And what does all this complex legal language really mean? We asked a real startup attorney - Mike LaPlante from Perkins Coie - to explain the basics of a Series A term sheet. In Part 4, Mike breaks down the final investor agreements you'll typically see in a term sheet, including the one that determines how your board is structured. This is an extremely important part of a term sheet for startup founders -- if your board is structured unfavorably, you risk losing control of the board (and your company, potentially) in a variety of different ways. Watch the final piece of Mike's Series A term sheet breakdown here.