Liquidation preference sets the order of payout for stakeholders in the case of a liquidity event. Put simply, liquidation preference establishes the “how much” and the “when” of your payout if you are a stakeholder in the company.
Liquidation Preference selection at Investopedia
Connie Loizos's WTF is a liquidation preference? at TechCrunch
Sam Wu's Liquidation Preference 101 and Liquidation Preference: Nonparticipating vs. Participating at The Startup Lawyer
Marcus Gosling's Funding your Startup — a Founder’s Guide to Liquidation Preferences at Captable.io
Charles Yu's The Ultimate Guide to Liquidation Preferences at Medium
David Willbe's Investment Termsheet: Liquidation Preference at StartupGrind