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Wrong formatting of links adjacent to parens (rare)
In cases where there is an alternate and a link on just the first term, Flowmark joins the parenthetical incorrectly. Output:
In a liquidity event,
**[participation rights](http://www.shakelaw.com/blog/vc-term-sheets-liquidation-preferences-participation/)(or
participation)** govern how investors get paid or “participate” in the distribution of
capital. Participation rights are often expressed in relation to preferred stock.
For example, it is common to hear someone refer to stock with full participation rights as
“participating preferred stock.”