%(/ 7+($575$ 7(021,725,167 $//$ 7,21,167 $//$ 7,21'(/$ &(,1785(&$5',2)5e48(1&(0Ê75(,167 $/$&,Ï1
'(/&,1785Ï1&$5',2)5(&8(1&,Ï0(752 $1/(*(1'(6+(5=)5(48(1=0(66*8576,167 $//$=,21('(//$&,1785$
&$5',2)5(48(1=,0(7523/$$ 76,1*9 $1'(+$57)5(48(17,(0(7(5%$1',167 $/$d2'2&,172&$5',2)5(48(1&,0(752
=$.à$'$1,(3 $6$'2320,$58&=ĉ67 27/,:2ĝ&,7ĉ71$ $6=Ë95,70860e5ėg9(/+(/ <(=e6(ɇȺȾȿȼȺɇɂȿɉɈ əɋȺɉɍ Ʌɖɋ ɈɆȿɌɊ Ⱥ
,167 $/$5($&(1785,,&$5',2)5(&9(1܉0(758,167 $/$&(3È680ċě,ý(7(329e)5(.9(1&(,167 $//$ 7,21$ 9%b/ 7(70('
+-b57)5(.9(160b7 $5(ɉɈɋɌ ȺȼəɇȿɇȺɄɈ ɅȺɇȺɁȺɂɁɆȿɊȼȺɇȿɇȺɉɍ ɅɋȺ.$5'ø<2)5(.$160(75(.(0(5ø1ø1<(5/(ù7ø5ø/0(6ø
ᖗ⥛⌟䞣㛌ᏺⱘᅝ㺙
ᖗ⥛␀䞣㛌ᐊⱘᅝ㺱
&+$1*,1*7+(%$ 77(5< &+$1*(0(17'(/$3,/(6867,78&,Ï1'(/$ 3,/$ $86:(&+6(/1'(5%$ 77(5,(6267,78=,21('(//$
3,/$ %$ 77(5,-(19(59 $1*(168%67,78,d2'$ 3,/+$:<0,$1$ %$ 7(5,,$=(/(0&6(5e-(ɁȺɆȿɇȺɗ ɅȿɆȿɇɌ ȺɉɂɌ Ⱥɇɂə
6&+,0%$5($ %$ 7(5,(,9é0ċ1$ %$ 7(5,(%<7( $ 9%$ 77(5,ɋɆəɇȺɇȺȻ ȺɌȿɊɂəɌ Ⱥ3ø/ø1'(öøù7ø5ø/0(6ø
⬉∴ⱘᤶ
䳏∴ⱘ
5(&<&/$*(
/H V\PEROH © SRXEHOOH EDUUpH ª
VLJQL¿H TXH FH SURGXLW HW OHV SLOHV
TX¶LO FRQWLHQW QH SHXYHQW rWUH MH WpV
DYHF OHV GpFKHWV GRPHVWLTXHV ,OV
IRQW O¶REMHW G¶XQ WUL VpOHFWLI VSpFL¿TXH
'pSRVH] OHV EDWWHULHV DLQVL TXH
YRWUH SURGXLW pOHFWURQLTXH HQ ¿Q
GH YLH GDQV XQ HVSDFH GH FROOHFWH
DXWRULVp D¿Q GH OHV UHF\FOHU
&HWWH YDORULVDWLRQ GH YRV GpFKHWV
pOHFWURQLTXHVSHUPHWWUDODSURWHFWLRQ
GH O¶HQYLURQQHPHQWHW GH YRWUHVDQWp
5(&<&/,1*
7KH ³FURVVHGRXW ELQ´ V\PERO LQGLFDWHV
WKDW WKLV SURGXFW DQG WKH EDWWHULHV LW
FRQWDLQV FDQQRW EH GLVSRVHG RI ZLWK
KRXVHKROG ZDVWH 7KH\ DUH VXEMHFW WR
VSHFL¿F VRUWLQJ 7 DNH WKH EDWWHULHV DQG
\RXU XQXVDEOH HOHFWURQLF SURGXFW WR DQ
DXWKRULVHG FROOHFWLRQ DUHD IRU UHF\FOLQJ
5HF\FOLQJ \RXU HOHFWURQLF ZDVWH ZLOO
SURWHFWWKH HQYLURQPHQWDQG\RXU KHDOWK
5(&,&/$-(
(O VtPEROR ´FXER WDFKDGR´ VLJQL¿FD
TXH HVWH SURGXFWR \ ODV SLODV TXH
FRQWLHQH QR SXHGHQ HOLPLQDUVH
FRQ ORV GHVHFKRV GRPpVWLFRV 6RQ
REMHWR GH XQD VHOHFFLyQ HVSHFt¿FD
(OLPLQH
ODV SLODV \ HO SURGXFWR
HOHFWUyQLFR TXH \D QR IXQFLRQHQ HQ
XQHVSDFLRGH UHFRJLGDDXWRUL]DGRD
¿Q GH UHFLFODUORV (VWD YDORUL]DFLyQ
GH VXV GHVHFKRV HOHFWUyQLFRV
SHUPLWLUi OD SURWHFFLyQ GHO PHGLR
DPELHQWH\GHVXVDOXG
(17625*81*
'DV 6\PERO ÄGXUFKJHVWULFKHQH
0OOWRQQH³ EHGHXWHW GDVV GLHVHV
3URGXNW VRZLH GLH GDULQ HQWKDOWHQHQ
%DWWHULHQ QLFKW PLW GHP +DXVPOO
HQWVRUJW ZHUGHQ GUIHQ 6LH ZHUGHQ PLW
GHP 6SH]LDOPOO HQWVRUJW (QWVRUJHQ
6LH GLH %DWWHULHQ VRZLH ,KU QLFKW PHKU
YHUZHQGHWHV HOHNWURQLVFKHV 3URGXNW
]XP5HF\FOLQJDQ HLQHUHQWVSUHFKHQGHQ
6DPPHOVWHOOH 'LH :LHGHUYHUZHUWXQJ
HOHNWURQLVFKHU $EIlOOH HUP|JOLFKW
GHQ 6FKXW] GHU 8PZHOW XQG ,KUHU
*HVXQGKHLW
5,&,&/$**,2
,OVLPEROR UDSSUHVHQWDQWH XQFHVWLQR
EDUUDWR VLJQL¿FD FKH LO SURGRWWR
H OH SLOH LQ HVVR FRQWHQXWH QRQ
SRVVRQR HVVHUH JHWWDWL QHL QRUPDOL
UL¿XWL XUEDQL 6RQR RJJHWWR GL XQR
VSHFL¿FR VPDOWLPHQWR 5LSRUWDUH OH
SLOH HG LO SURGRWWR HOHWWURQLFR QRQ
SL XWLOL]]DELOH LQ XQ DSSRVLWR VSD]LR
GL UDFFROWD SHU SRWHUOL ULFLFODUH
4XHVWD YDORUL]]D]LRQH GHL UL¿XWL
HOHWWURQLFL SHUPHWWHUj OD SURWH]LRQH
GHOO¶DPELHQWHHGHOODVDOXWH
5(&,&/$*(0
2VtPEROR ©FDL[RWHGR OL[RFRPWUDoR
REOtTXR SRU FLPDªVLJQL¿FD TXH HVWH
SURGXWR H DV SLOKDV TXH FRQWpP
QmR SRGHP VHU GHLWDGRV IRUD FRP
R OL[R GRPpVWLFR (VWmR VXMHLWRV D
XPD WULDJHP VHOHFWLYD HVSHFt¿FD
'HSRVLWHDVSLOKDV EHPFRPRRVHX
SURGXWR HOHFWUyQLFR HP ¿P GH YLGD
~WLOQXP ORFDO GHUHFROKD DXWRUL]DGR
SDUD RV UHFLFODU (VWD UHFLFODJHP
GR VHX OL[R HOHFWUyQLFR SHUPLWLUi D
SURWHFomR GR DPELHQWH H GD VXD
VD~GH
(17625*81*
'DV 6\PERO ÄGXUFKJHVWULFKHQH
0OOWRQQH³ EHGHXWHW GDVV
GLHVHV 3URGXNW VRZLH GLH GDULQ
HQWKDOWHQHQ %DWWHULHQ QLFKW PLW
GHP +DXVPOO HQWVRUJW ZHUGHQ
GUIHQ6LH ZHUGHQ PLW GHP
6SH]LDOPOO HQWVRUJW (QWVRUJHQ
6LH GLH %DWWHULHQ VRZLH ,KU QLFKW
PHKU YHUZHQGHWHV HOHNWURQLVFKHV
3URGXNW ]XP 5HF\FOLQJ DQ HLQHU
HQWVSUHFKHQGHQ 6DPPHOVWHOOH 'LH
:LHGHUYHUZHUWXQJ HOHNWURQLVFKHU
$EIlOOH HUP|JOLFKW GHQ 6FKXW] GHU
8PZHOWXQG,KUHU*HVXQGKHLW
87</,=$&-$
6\PERO ÄSU]HNUHĞORQ\ NRV]´
R]QDF]D ĪH DQL SURGXNW DQL EDWHULH
QLH PRJą E\ü Z\U]XFDQH GR ĞPLHFL
NRPXQDOQ\FK 3RGOHJDMą RQH
]ELyUFH VHOHNW\ZQHM =XĪ\WH EDWHULH
L XU]ąG]HQLH HOHNWURQLF]QH SRZLQQ\
E\üSR]RVWDZLRQHZDXWRU\]RZDQ\P
SXQNFLH ]ELyUNL Z FHOX SRGGDQLD LFK
UHF\NOLQJRZL 8W\OL]DFMD RGSDGyZ
HOHNWURQLF]Q\FK SRPDJD FKURQLü
ĞURGRZLVNRL7 ZRMH]GURZLH
6(/(-7(=e6
$] ÄiWK~]RWW V]HPHWHVHGpQ\³
V]LPEyOXP D]W MHO]L KRJ\ VHP
H]W D WHUPpNHW VHP D EHQQH OHYĘ
HOHPHNHW QHP V]DEDG D Ki]WDUWiVL
V]HPpWEH GREQL (]HNHW VSHFLiOLV
YiORJDWiVQDN YHWLN DOi $ KDV]QiOW
HOHPHNHW pV D WRYiEE PiU QHP
KDV]QiOKDWy HOHNWURQLNXV WHUPpNHW
~MUDKDV]QRVtWiV FpOMiEyO DGMD OH
HJ\ HUUH V]DNRVRGRWW J\ĦMWĘKHO\HQ
$] HOHNWURQLNDL KXOODGpN ~MUD
KDV]QRVtWiVD YpGL D N|UQ\H]HWHW pV
D]gQHJpV]VpJpW
5(&,&/$5(
6LPEROXO ÄODGă GH JXQRL EDUDWă´
vQVHDPQă Fă DFHVWSURGXV úLEDWHULLOH
SH FDUHOH FRQĠLQH QX SRW¿ DUXQFDWH
vQDFHODúLORFFXGHúHXULOHPHQDMHUH
$FHVWHD IDF RELHFWXO XQHL WULHUL
VHOHFWLYH VSHFL¿FH 3UHGDĠL EDWHULLOH
SUHFXP úL SURGXVXO HOHFWURQLF X]DW
OD XQ FHQWUX GH FROHFWDUH DXWRUL]DW
SHQWUX D ¿ UHFLFODWH 9 DORUL¿FDUHD
GHúHXULORU HOHFWURQLFH YD FRQWULEXL
OD SURWHFĠLD PHGLXOXL úL D VăQăWăĠLL
GXPQHDYRDVWUă
ȼɌ ɈɊɂɑɇȺəɉȿɊȿɊ ȺȻɈɌɄȺ
Ɂɧɚɤ ©ɩɟɪɟɱɟɪɤɧɭɬ ɨɝɨ ɦɭɫɨɪɧɨɝɨ
ɤɨɧɬɟɣɧɟɪɚª ɨɡɧɚɱɚɟ ɬ ɱɬɨ
ɧɚɫɬɨɹɳɟɟ ɢɡɞɟɥɢɟ ɚ ɬɚɤɠɟ
ɷɥɟɦɟɧɬɵ ɩ ɢɬɚɧɢɹ ɜɯɨɞɹɳɢɟ ɜ
ɟɝɨ ɫɨɫɬɚɜ ɧɟɥɶɡɹ ɜɵɛɪɚɫɵɜɚɬɶ
ɜɦɟɫɬɟɫɛɵɬɨɜɵɦɢɨ ɬɯɨɞɚɦɢ
5(&<./$&(
6\PERO ©SĜHãNUWQXWê RGSDGNRYê
NR㪠]QDPHQi åH WHQWR YêUREHN
D EDWHULH NWHUp REVDKXMH QHO]H
Y\KD]RYDW V GRPRYQtP RGSDGHP
-H QXWQp MH OLNYLGRYDW MDNR WĜtGČQê
RGSDG %DWHULH D WDNp GDOãt
HOHNWURQLFNp YêUREN\ QD NRQFL
MHMLFK åLYRWQRVWL RGHY]GHMWH GR
DXWRUL]RYDQpKR VEČUQpKR PtVWD
NWHUp SURYHGH UHF\NODFL7 HQWR
]SĤVRE ]SUDFRYiQt HOHNWURQLFNpKR
RGSDGXSĜLVSČMH N RFKUDQČåLYRWQtKR
SURVWĜHGtLYDãHKR]GUDYt
c7(59,11,1*
6\PEROHQ VRP EHVWnU DY HQ
|YHUNRUVDG VRSWXQQD LQQHElU
DWW SURGXNWHQ RFK GH EDWWHULHU
GHQ LQQHKnOOHU LQWH InU VOlQJDV
VRP RVRUWHUDW KXVKnOOVDYIDOO 'H
VNDOO VRUWHUDV VHSDUDW /lPQD
WLOOEDND XWWMlQWD EDWWHULHU RFK
GHQ HOHNWURQLVND SURGXNWHQ Sn
HWW JRGNlQW LQVDPOLQJVVWlOOH I|U
nWHUYLQQLQJ cWHUYLQQLQJHQ DY
HOHNWURQLVNWDYIDOOVN\GGDUPLOM|QRFK
GLQKlOVD
ɊȿɐɂɄɅɂɊ Ⱥɇȿ
Ɉɡɧɚɱɟɧɢɟ ɬɨ Äɡɚɞɪɚɫɤ ɚɧɚ ɤɨɮɚ
ɡɚ ɛɨɤɥɭɤ´ ɨɡɧɚɱɚɜɚ ɱɟ ɬɨɡɢ ɭɪɟɞ
ɢ ɛɚ ɬɟɪɢɢɬɟ ɤɨɢɬɨ ɫɴɞɴɪɠɚ ɧɟ
ɦɨɝɚ ɬɞɚɛɴɞɚɬɢɡɯɜ ɴɪɥɹɧɢɡɚɟɞɧɨ
ɫ ɞɨɦɚɤɢɧɫɤɢɨɬɩɚɞɴɰɢɌɟɬɪɹɛɜɚ
ɞɚ ɛɴɞɚɬ ɫɴɛɢɪɚɧɢ ɨɬɞ ɟɥɧɨ Ɍɟ
ɬɪɹɛɜɚ ɞɚ ɛɴɞɚɬ ɫɴɛɢɪɚɧɢ ɨɬɞɟ ɥɧɨ
ɋɥɟɞ ɢɡɥɢɡɚɧɟ ɧɚ ɛ ɚɬɟɪɢɢɬɟ ɢ
ɟɥɟɤɬɪɨɧɧɢɹ ɭɪɟɞ ɨɬ ɭɩɨɬɪɟɛɚ ɬɟ
ɬɪɹɛɜɚ ɞɚ ɛɴɞɚ ɬ ɬɪɚɧɫɩɨɪɬɢɪɚɧɢ
ɧɚ ɫɩɟɰɢɚɥɧɨɪɚɡɪɟɲɟɧɨ ɡɚ ɰɟ ɥɬɚ
ɦɹɫɬɨ ɡɚ ɬɹɯɧɨɬɨ ɪɟɰɢɤɥɢɪɚɧɟ
Ɍ ɚɤ ɨɜɚ ɩɪɟɪɚɛɨ ɬɜɚɧɟ ɧɚ ɜɚɲɢɬɟ
ɟɥɟɤɬɪɨɧɧɢ ɨɬɩɚɞɴɰɢ ɨɩɚɡɜɚ
ɨɤɨɥɧɚɬ ɚɫɪɟɞɚɢɜɚɲɟɬ ɨɡɞɪɚɜɟ
*(5ø'g1hùh0
©hVWoL]LOL o|SWHQHNHVLªVHPERO
EX UQQ YH LoHUGL÷L SLOOHULQ QRUPDO
HYDWÕNODUÕ\OD ELUOLNWHDWÕODPD\DFD÷ÕQÕ
EHOLUWPHNWHGLU g]HO RODUDN D\UÕOPDODUÕ
JHUHNPHNWHGLU .XOODQÕP |PU
VRQD HUHQ EDWDU\DODUÕ YH HOHNWURQLN
UQQ] JHUL G|QúWUOPHN
]HUH ELU WRSODPD QRNWDVÕQD
J|WUQ (OHNWURQLN DWÕNODUÕQÕ]ÕQ EX
úHNLOGH GH÷HUOHQGLULOPHVL oHYUHQLQ
YH VD÷OÕ÷ÕQÕ]ÕQ NRUXQPDVÕQÕ
VD÷OD\DFDNWÕU
ಲᬊ
Āߦᴴൗഒㆅāᷛ䆚䇈ᯢᴀ
ѻક݊Ёⱘ⬉∴ϡ㛑Ў
ᆊᒁൗഒ϶ᓗDŽᖙ乏⡍߿ᣥ
䗝DŽᙼⱘ⬉ᄤѻકᇓੑ㒧
ᴳПৢˈ䇋ᇚѻક⬉∴ᬒ
ࠄϧ䮼ⱘᑳᓗ⠽ᬊ䲚എ᠔ˈ
ҹ֓ݡ⫳߽⫼DŽ⬉ᄤൗഒⱘ
ᄬᬒ᳝߽Ѣֱᡸ⦃๗ˈ
ᇍᙼⱘعᒋ᳝߽DŽ
ಲᬊ
Ā⬿ᴴൗഒㆅā῭䁠㸼ᯢᴀ
⫶કঞ䳏∴ϡৃ⚎⫳⌏ൗ
ഒϳẘDŽ䷜ᇛᴀક㕂ᮐᇜ䭔
ಲᬊ㰩DŽᙼⱘ䳏ᄤ⫶ક
䳏∴Փ⫼໑ੑ㌤ᴳᕠˈ䂟ᇛ
݊㕂ᮐᇜ䭔ഄᐊҹ֓ಲᬊ߽
⫼DŽ䳏ᄤൗഒⱘಲᬊ߽⫼᳝
߽Ѣֱ䅋⪄๗ˈᇡᙼⱘعᒋ
᳝ⲞDŽ