Y?

LGNDQP1QP
9DLGLND-`QD0DQWKDQDP

7KH&KXUQLQJRI9HGLF.QRZOHGJH

M\JXBGHY
Jaya Guru Deva

cD7PYHGLY=YECc\PD7PDEC?YLK
cD7PD(Y,GVYRPcD7P?YHGVYRLPLW
WPDYHGDYLYDEUDKPDD\DPWPEUDKPDLYDKL
WPHYDLGD@VDUYDPWPDLYHGD@VDUYDPLWL
)URP#WPWKH6HOIDULVHV9HGD)URP9HGD9LYDWKHXQLYHUVH)URP9LYD
%UDKPDQ7RWDOLW\7KLV#WPWKH6HOILV%UDKPDQ7KH6HOILVDOOWKLVZRUOG$OO
WKLVZRUOGLQGHHGLVWKH6HOI
DWPD
WPDYHGD
YHGDYLYD
YLYDEUDKPD0DKDULVKL
V9HGLF6FLHQFH7KUHHVWHSVRIHYROXWLRQ #WPWKH
6HOILVWKHJURXQGIURPZKHUHWKHVWHSVRIHYROXWLRQEHJLQ7KHILUVWVWHSLVAUXWLWKH
VSHHFKYDOXHRIH[SUHVVLRQ 9HGD7KHVHFRQGVWHSRIHYROXWLRQLVIURPWKHVSHHFKOHYHOWR
WKHPDWHULDOOHYHOZKH UHWKHIUHTXHQFLHVRIVRXQGIUHTXHQFLHVRIVSHHFKLQWKH/DQJXDJH
RI1DWXUDO/DZHYROYHLQWRIUHTXHQFLHVRIPDWWHUZKLFKFRQVWUXFWWKHZKROHSK\VLRORJ\
RIWKHHYHUHYROYLQJPDWHULDOXQLYHUVH 9LYD7KHWKLUGVWHSRIHYROXWLRQLV %UDKPDQ
7RWDOLW\ZKLFKLVWKHIXOO\DZDNHTXDOLW\RI#WPLWVHOI6RWKHWKLUGVWHSFRPHVEDFNWRD
OHYHOIURPZKHUHWKHHYROXWLRQEHJDQ 

E0>N\D8SDQL!DGVDUYD@K\HWDGEUDKPD D\DP WP EU
EUDDKPDVR
\DPWP
FDWX!SW$OOWKLVLVYHULO\%UDKPDQ7KLV6HOILV%UD KPDQ7KLVVDPH6HOIKDVIRXU
TXDUWHUV

FG&KQGRJ\D8 DWKWDWPGHDHYDWPDLYGKDVWWWPRSDUL!WWP
SDFWWPSXUDVWWWPGDN!L>DWD_WPRWWDUDWD_ WPDLYHGD@ VDUYDP LWL1RZQH[WWKH
LQVWUXFWLRQLQUHJDUGWRWKH6HOI7KH6HOI LQGHHGLVEHORZ7KH6HOILVDERYH7KH6HOILV
EHKLQGWRWKHZHVW7KH6HOILVLQIURQWWRWKHHDVW7KH6HOILVWRWKHVRXWK7KH6HOILVWR
WKHQRUWK7KH6HOILQGHHGLVDOOWKLVZRUOG 



cKECDL6PLQ7\DH'KWYPLVEC?Y7YP
SXB[DH'KSCLWS>RPGS>RLPGP
DKD@EUDKPVPLQLW\R
KD@WDWWYDPDVLEUDKPDLYDWYDP
SXUX!R
KD@SUDNBWLFDSU>DPDGD_SU>DPLGDP
,DP%UDKPDQ7RWDOLW\,DPHWHUQDO7KRXDUW7KDW7KRXLQGHHGDUW%UDKPDQ,
DP3XUX!DVLOHQFHDQG,DPDOVR3UDNBWLG\QDPLVP7KDWLVIXOODQGWKLVLVIXOO
D%BKDGUD>\DND8 EUDKPDYLGDPDJUDV ?WWDGWPQDPHYYHW DKDP
EUDKPVP
EUDKPVP??WLWDVPWWDWVDUYDPDEKDYDW%UDKPDQLQGHHGZDVWKLVLQWKHEHJLQQLQJ,W
NQHZLWVHOIRQO\DV
,DP%UDK PDQ
7KHUHIRUHLWEHFDPHDOO \DHYD@YHGDDKDP
EUDKPVP?WLVDLGD@VDUYDPEKDYDWL:KRHYHUNQRZVWKXV
,DP%UDKPDQ
EHFRPHVWKLV
DOO

E&K8 VD\DH!R
>LPDLWDG WP\DP
LGD@VDUYD@WD WVDW\DPVDWP WDW WYDP DV
DVLLYHWDNHWRLWL7KDWZKLFKLVWKHVXEWOH
HVVHQFHWKLVZKROHZRUOGKDVIRULWVVHOI7KDWLVWKHWUXH7KDWLVWKH6HOI7KDWDUWWKRX
AYHWDNHWXEUDKPDLYD EUDKPDHYD 

FSXUX!D_DKDPSUDNBWL_FD
G%BKDGUD>\DND8SU>DP DGD_ S
SU>DP
U>DP LGDPSU>WSU>DPXGDF\DWH
SU>DV\DSU>DPG\DSU>DPHYYDL!\DWH7KDWLVIXOOWKLVLVIXOO)URPIXOOQHVV
IXOOQHVVFRPHVRXW7DNLQJIXOOQHVVIURPIXOOQHVVZKDWUHPDLQVLVIXOOQHVV 

VY!TOX,GECM@YDHEC?YQDSU
cD7PD(Y,GVY!VLdGDQ1GVDJU
VDUYD@NKDOXLGD@EUDKPDM?YREUDKPDLYDQSDUD_
WPHYDLGD@VDUYD@VDFFLGQDQGDVJDUD_

$OOWKLVZRUOGLQGHHGLV%UDKPDQ-?YDWKHLQGLYLGXDOVHOILVQRWKLQJRWKHUWKDQ
%UDKPDQ#WPWKHRFHDQRIDEVROXWHEOLVVFRQVFLRXVQHVV6DW&LW#QDQGDLV
LQGHHGDOOWKLVZRUOG


D&K8VDUY
VDUYDD@ NKDOY LGD@ EUDKPDWDMMDOQLWLQWDXSV ?WD9HULO\WKLVZKROH
ZRUOGLV%UDKPDQIURPZKLFKKHFRPHVIRUWKZLWKRXWZKLFKKHZLOOEHGLVVROYHGDQG LQ

ZKLFKKHEUHDWKHV7UDQTXLORQHVKRXOGPHGLWDWHRQLWAD^NDUDMD EHJLQQLQJOD 

HQGLQJDQ FRQWLQXLQJ 

E%UDKPDM`QDYDO ?PO6WRWUDRIAD^NDUD EUDKPDVDW\D@MDJDQPLWK\ M?YR
EUDKPDLYD QSDUD_DQHQDYHG\D@VDF FKVWUDPLWLYHGQWD L>LPD_%UDKPDQLVWKH
5HDOLW\7KHZRUOGLVDQLOOXVLRQ7KHLQGLYLGXHOVHOILVQRWKLQJRWKHUWKDQ%UDKPDQ7KDW
E\ZKLFKWKLV7UXWKLVNQRZQLVWKHWUXHVWVFLHQFHWKH6FLHQFHRIVFLHQFHVWKXVURDUV
9HGQWD

GVDWFLWQDQGDVJDUD_7KHRFHDQRI6 DWFLWQDQGD

SCLW6YDPY:\LYV2MDLPSXQSXQ
\DHJ6BNPDRLECDZYLWVDUL
SUDNBWL@VYPDYD!DEK\DYLVBMPLSXQD_SXQD_
\RJDVWKD_NXUXNDUP>LEUDKPEKDYDWLVUDWKL_

&XUYLQJEDFNWRP\RZQ1DWXUH,FUHDWHDJDLQDQGDJDLQ(VWDEOLVKHGLQ<RJDLQ
8QLW\SHUIRUPDFWLRQ%UDKPWKHFRVPLFLQWHOOLJHQFHZLOOEHFRPHWKHFKDULRWHHU
RIDOO\RXUXQGHUWDNLQJV
DE%KDJDYDG*?W SUDN
SUDNBBWL@ VYP DYD!D
DYD!DEEK\D YLVBMPL SXQD_ SXQD_EKWDJUPDP
LPDPNBWVQDPDYDDPSUDNBWHUYDW &XUYLQJEDFNWRP\RZQ1DWXUH,FUHDWHDJDLQDQG
DJDLQDOOWKLVPXOWLWXGHRIEHLQJVKHOSOHVVXQGHUWKHUHJLPHRI1DWXUH 

F%K* \RJDVW
\RJDVWKKD_ NXUX NNDDUP>LVD^JD@W\DNWYGKDQD@MD\DVLGGK\ DVLGGK\R_
VDPREKWYVDPDWYD@\RJDXF\DWH(VWDEOLVKHGLQ <RJDLQ8QLW\SHUIRUPDFWLRQ2
'KDQD@MD\DUHQRXQFLQJDWWDFKPHQWVDQGHYHQPLQGHGLQVXFFHVVDQGIDLOXUH
(TXLOLEULXPLVYHULO\<RJD 

GJYHGDG?UJKDWDPPPDWH\RMXMXUYQGDDPH\XJHDSPDUWKD@\DW ?Q@
EUDKP EKDYDWL VUDWKL_

W7VLQaID?Y?U7\DJDHKH\GXTPQDJWP
c\LKSUPDHIPDRHIPDRHULWULW
WDWVDQQLGKDXYDLUDW\JRKH\D@GX_NKDPDQJDWDP
D\D@KLSDUDPRGKDUPRGKDUPRUDN!DWLUDN!LWD_


,QWKHSUHVHQFHRIVXFKDPDQWKHUHZLOOEHDEVHQFHRIHQPLW\$YHUWWKHGDQJHU
ZKLFKKDVQRW\HWDULVHQ7KLVLVWKHKLJKHVWGXW\7KHSURWHFWHG'KDUPD1DWXUDO
/DZZLOOSURWHFW\RX
D<RJD6WUDDKL@VSUDWL!K\@ WD
WDWWVDQQL
VDQQLGGKDX YDLUD
YDLUDW\JD_:KHUHQRQLQMXU\LV
HVWDEOLVKHGLQWKHYLFLQLW\RIWKDWKRVWLOHWHQGH QFLHVDUHHOLPLQDWHG 

E<6 KH\D@ GX_NDP DQJDWDP$YHUWWKHGDQJHUZKLFKKDVQRW\HWFRPH 

F*DUXD3XU>D D\
D\D@
D@ KL SDUDPR GKDUPR\DG\RJHQWPDGDUDQDP5HDOL]LQJRQH
V
6HOIWKURXJK\RJDLVWKHKLJKHVWRIDOOGXWLHV 

G0DQX6PBWL GKDUPDHYDKDWRKDQWL GKDUPR UDN!DWL UDN!LWD_WDVPGGKDUPRQD
KDQWDY\RPQRGKDUPRKDWR
YDGK ?W'KDUPD1DWXUDO/DZEHLQJYLRODWHGGHVWUR\V
'KDUPDEHLQJSURWHFWHGSURWHFWV7KHUHIRUH'KDUPDPXVWQRWEHYLRODWHGOHVWYLRODWHG
'KDUPDGHVWUR\VXV 

VJ&)YVYG)YVYDHPQDLVMDQWDP
VXVKDVLWYDHLQ7\YVXI?YX0ENP
VD@JDFFKDGKYD@VD@YDGDGKYD@VD@YRPDQ@VLMQDWP
VXVDKVDWLYRQLW\D@YDVXGKDLYDNXXPEDNDP

*RWRJHWKHUVSHHNWRJHWKHU.QRZWKDW\RXUPLQGVKDYHDFRPPRQRULJLQ0D\
\RXDOZD\VEHKDSS\WRJHWKHU7KHZRUOGLQGHHGLVDIDPLO\


DE59VD@ JDFFKDGKYD@ VD@ YDGDGKYD@ VD@ YR PDQ@VL MQDWPGHYEKJD@
\DWKSUYHVD@MQQXSVDWH*RWRJHWKHUVSHDNWRJHWKHUNQRZ\RXUPLQGVWREH
IXQFWLRQLQJWRJHWKHUIURPDFRPPRQVRXUFHLQWKHVDPHPDQQHUDVWKHLPSXOVHVRI
&UHDWLYH,QWHOOLJHQFHLQWKHEHJLQQLQJUHPDLQWRJHWKHUXQLWHGQHDUWKHVRXUFH 

F59VDPQ?YDNWL_VDPQKBGD\QLYD_VDPQDPDVWXYRPDQR\DWK
YD_ VXVDKVDWL8QLWHGEH\RXUSXUSRVHKDUPRQLRXVEH\RXUIHHOLQJVFROOHFWHGEH\RXU
PLQGWKDW\RXPD\EHKDSS\WRJHWKHU 

G0DK8D\D@EDQGKXUD\D@QHWLJD>DQODJKX FHWDVPXGUDFDULWQ@WX
YDVXGKDLYD NXXPE
NXXPEDDNDP

cD7PY2LYHG]%GDHYHGDHQDPLY=YSP
\DLSHWDLY=YHcKYHGDHLY=YPKP
WPDYBWWLYHGDDEGRYHGRQPDYLYD@USDP
\DWKSL>HWDWKYLYHDKD@YHGRYLYDPDKDP
4


7KHVRXQGVRIWKH9HGDDUHWKHIOXFWXDWLRQVRIWKH6HOI9HGDLVWKHQDPH7KH
XQLYHUVHLVWKHIRUP$VLQWKHKXPDQERG\VRLQWKHXQLYHUVH,DPWKH9HGD,DP
WKHXQLYHUVH
F8QNQRZQVRXUFH\DWK SL>H WDWK EUDKP>H

G7DLWWLU?\D8 DKD@ YLYD@EKXYDQDPDEK\DEKDYP,KDYHRYHUFRPHWKH
ZKROHZRUOG'HY ?8YHGR
KDP

(NWDVLKWDVLISUVLQN[R,LW
DW2DQH\?N7Y]XFHWQDOP
HNDWVD@KLWVD@GKL_SDUD_VD@QLNDU!DLWL
M`WBM`QDM`H\DLNDWYD@XGGKDFHWDQODN!D>DP
6D@KLWLV8QLW\6DQGKLWKHFORVHVWWRJHWKHUQHVVRIWKHOHWWHUV8QLW\RIWKH
NQRZHUWKHSURFHVVRINQRZLQJDQGWKHNQRZQLVWKHVLJQRISXUHFRQVFLRXVQHVV
DE$!GK\\?RI3>LQL6WUDDQG1LUXNWD SDUD_ VD@QLNDU!D_VD@KLW7KH
FORVHVWSUR[LPLW\RIOHWWHUVLVFDOOHG6D@KLW 




cDLGU17\HQVKHWDcL*QPVLWVLKWD
IPRHHBHHICXYDQ@LWPRLWPRP


GLUDQW\HQDVDKHWDJQLPDVDWLVD@KLW
GKDUPDN!HWUHNXUXN!HWUHGKUXYQ?WLUPDWLUPDPD

7KHILUVWWRJHWKHUZLWKWKHODVW
LW
LQFOXGHVHYHU\WKLQJZKDWLVLQEHWZHHQ
DJQLP
DVDWL
LVWKHWZRZRUGH[SUHVVLRQRIWKHZKROHJYHGD6D@KLW
,QWKHILHOGRI
'KDUPD1DWXUDO/DZRQ.XUXN!HWUDWKHUHLVILUPULJKWHRXVQHVV7KLVLVP\
FRQYLFWLRQ

D36G
GLLU DQW
DQW\\HQD VDKHWVDKDLW$QLQLWLDOOHWWHUZLWKDILQDOLWOHWWHULVWKHQDPH
RILWVHOIDQGWKH LQWHUYHQLQJOHWWHUV 

E59DJQLP?OHSXURKLWD@\DM`DV\DGHYDPBWYLMDPKRWUD@UDWQD GKWDPDP59
VDPQ?YDNWL_VDPQKBGD\QLYD_VDPQDPDVWXYRPDQR\DWKYD_
VXVDKVDWLVXVDKD DVD
DVDWWL


F%K*GKDUPD
GKDUPDN!HWUH NXUX
!HWWUH VDPDYHW\X\XWVDYD_PPDN_S>DYDFDLYD
XUXN!H
NLPDNXUYDWDVD@MD\D$VVHPEOHGRQWKHILHOGRI'KDUPD26D@MD\DRQWKHILHOGRIWKH
.XUXVHDJHUWRILJKWZKDWGLGP\SHRSOHDQGWKH3>DYDVGR" 

G%K*\DWUD\RJHYDUD_NB!>R\DWUDSUWK RGKDQXUGKDUD_WDWUDU ?UYLMD\R
EKWLU GKUXY Q
Q??WLU PD
PDWWLU PDPD:KHUHYHULV.B!>DWKH/RUGRI<RJDZKHUHYHULV3UWKD
WKHZLHOGHURIWKHERZWKHUHLVSURVSHULW\YLFWRU\H[SDQVLRQDQGVRXQGSROLF\6XFKLV
P\FRQYLFWLRQ

cSDLLQV>DLY2LUDG?Fcc,LW
SWLOPKDZD;\Pc]%GDQX]DVQP
DWKDS>LQLVWU>LYBGGKLUGDLFDDLWL
SDWD`MDOLPDKEK!\DPDWKDDEGQXVDQDP

1RZWKH3>LQL6WUDVDLDQGDXDUHFDOOHG9BGGKL7KHDZKLFKZDV
FRQVLGHUHGWREHRSHQLQDOOWKHSUHFHGLQJRSHUDWLRQVRIWKLV*UDPPDULVQRZ
PDGHFORVHG1RZWKHWHDFKLQJRIVRXQGVLVWKHEHJLQQLQJRI3DWD`MDOL
V
0DKEK!\D
E36YBGGKLU G DLF36DD

G0DKEK!\D  DWKD DEGQXVDQDP

c,85O2JDG@LQPDKH=YUDLV>DL
VXL3Wh1WSGYD.\YHGPXT9\DNUP
DLX>B JG?QLPKHYDU>LVWU>L
VXSWL^DQWD@SDGD@YN\D@YHGDPXNKD@Y\NDUD>DP


DLX>B N
HWFDUHWKHALYD6WUDV9\NDUD>DWKHPRXWKRIWKH9HGDGHDOV
ZLWKSDGDVZRUGVDQGVHQWHQFHV$SDGDHQGVHLWKHULQVXSFDVHHQGLQJVRUWL^
SHUVRQDOHQGLQJV


DALYD0DKHYDUD6WUDV D L X > B NHR^DLDXFKD\DYDUDOD>`DPD^D>DQD

PMKDEKD`JKDKDGKD!MDEDJDDGDNKDSKDFKD KDWKDFDDWDYNDSD\D!D
VDUKDO


F36VXS
VXSWL^
WL^DQWD@ SDGDP^\SSUWLSDGLNWVYDXMDVDPDX
FKD!EK\PEKLV^HEK\PEK\DV^DVLEK\PEK\DV^DVRVP^\RVVX S36
ODV\DWLSWDVMKLVLSWKDVWKDPLEYDVPDVWW@MKDWKVWK@GKYDPL
YDKLPDKL ^

SWLO\DHJV>Pc\DHJDQX]DVQP
GCX6YSH'Y6DQPcLFLW]LLULW
SDWD`MDOL\RJDVWUDPDWKD\RJQXVDQDP
GUD!X_VYDUSH
YDVWKQDPDWUDFLWLDNWLULWL

7KH<RJD6WUDVRI3DWD`MDOL1RZWKHWHDFKLQJRI<RJD7KHVHHULVHVWDEOLVKHG
LQKLVRZQ6HOI7KHUHLVWKHSRZHUWKHG\QDPLVPRIFRQVFLRXVQHVV


E<6 DWKD \RJ
\RJQQX!VDQDP

F<6 WDG GUD!
GUD!X
X__ VYDUSH
YDVWKQDP

G<6SXUX!UWKDQ\D\@JX>Q@SUDWLSUDVDYD_NDLYDO\D@VYDUSD SUDWL!K
YFLWL
FLWLDNWLU LWL7KHUHDEVRUSWLRQRIWKHDFWLYLW\RIQDWXUHZKLFKKDVQRIXUWKHUSXUSRVH
IRUSXUX!DLVHQOLJKWHQPHQWZKLFKLVNDLYDO\DRUWKHG\QDPLVPRIFRQVFLRXVQHVV
HVWDEOLVKHGLQLWVRZQQDWXUH 

cDWDHECLMDVDcQDY2L]%GDLGLW
YHG9\DVECV>ZD;\@]NUWP

DWKWREUDKPDMLM`VDQYBWWL_DEGGLWL
YHGDY\VDEUDKPDVWUD@EK!\D@U?D@NDUDNBWDP

1RZIURPKHUHWKHGHVLUHWRNQRZ%UDKPDQ1RUHWXUQEHFDXVHRIWKH
VFULSWXUHV7KLVLVWKHWZRVWUDH[SUHVVLRQRI9HGDY\VD
V%UDKPD6WUDVAU?
AD^NDUDPDGHKLVIDPRXVFRPPHQWDU\RQWKH%UDKPD6WUDV
D%UDKPD6WUD  DWKWR EUDKPD
EUDKPDMLM`V
MLM`V

E%6 DQYBWW
DQYBWWLL_ DEGGDQYBWWL_DEGW 


YD/P@LN\DHJYDLVPc?WYHGD1WVDUP
Y?UD*\PXPX>7SLL67\XS]PLQYDRP

YOP?NL\RJDYVL!KDPDGYDLWDYHGQWDVUDP
YDLUJ\DPXPXN!WSDWWLVWKLW\XSDDPDQLUY>DP

$GYDLWD9HGQWDLVWKHHVVHQFHRI9OP?NL
V<RJDYVL!KD7KHQDPHVRIWKHVL[
ERRNVDUH9DLUJ\D0XPXN!X9\DYDKUD8WSDWWL6WKLWL8SDDPDDQG1LUY>D

\WVYDRLZ>WDLSCLWZDL1WL6WDLQF
\?YDHS]P\DL1WW6P?V7\D7PQHQP
\DWD_VDUY>LEKW>LSUDWLEKQWLVWKLWQLFD
\DWUDLYRSDDPD@\QWLWDVPDLVDW\WPDQHQDPD_

6DOXWDWLRQWRWKDWWUXH6HOIIURPZKLFKDOOEHLQJVVKLQHIRUWKDQGKDYHWKHLU
H[LVWHQFHDQGLQWRZKLFKWKH\EHFRPHDEVRUEHG
<RJDYVL!KD 

c]D?QN5*YHGSCDLW]D4\Y\D0\KP
cD?VPDQDUDLVLKWDSGSCLW
DWKDDXQDNDBJYHGDSUWLNK\D@YDN!\P\DKDP
D!DXVDPQN!DU>LVD@KLWSDGDSUDNBWL_

1RZ,ZLOOVSHDNDERXWADXQDND
VJYHGD3UWLNK\D7KHUHDUHHLJKWVLPSOH
YRZHOV6D@KLWKDVWKHZRUGVSDGDDVLWVVRXUFHRU6D@KLWLVWKHVRXUFHRIWKH
ZRUGV
FJYHGD3UWLNK\DD!DX VDPQN
VDPQN!!DU>\ GLWD_DB;L?X

G53 VD@KLW S
SDDGD
GDSUDNBWL_1LUXNWDSDGDSUDNBWL_VD@KLW

SUDS=\1W@P)\PDY?TU@YD.SGDLQLK
cD7PDEXLPRQ6WW,L1GC\LY[\ PDW
SDUSD\DQW?PDGK\DPYDLNKDU?YNSDGQLKL
WPEXGGKLUPDQDVWDWDLQGUL\DYL!D\D_NUDPW

3DU3D\DQW?0DGK\DPDQG9DLNKDU?DUHWKHIRXUOHYHOVRIVSHHFK7KH\
FRUUHVSRQGWRWKH6HOILQWHOOHFWPLQGDQGWKHILHOGRIWKHVHQVHVUHVSHFWLYHO\

59!L_'?UJKDWDP$XFDWK\D_'HYDW9N&KDQGD_7UL!XS FDWYUL
YNSDULPLW SDGQLWQLYLGXUEUKPD>\HPDQ ?!L>D_JXKWU?>LQLKLWQH^JD\DQWL
WXU?\D@YFRPDQX!\YDGDQWL6SHHFKKDVEHHQPHDVXUHGRXWLQIRXUG LYLVLRQVWKH
%UKPDQVZKRKDYHXQGHUVWDQGLQJNQRZWKHP7KUHHNHSWLQFORVHFRQFHDOPHQWFDXVH
QRPRWLRQRIVSHHFKPHQVSHDNRQO\WKHIRXUWKGLYLVLRQ 1DPHVRI0RWKHU'LYLQHIURP
AU?/DOLWPELN6DKDVUDQPD6WRWUD3DU3D\DQW
3D\DQW??0DGK\DPDQG
9DLNKDU
9DLNKDU??UXS

cUHSUPH9\DHPQcL*QP@gHSXUDHLKWP
cUDDPNDUDH'L6Pc6YUVLKWDUV
DN!DUHSDUDPHY\RPDQDJQLP? HSXURKLWDP
DN!DU>PDNUR
VPLDVYDUD_VD@KLWUDVD_

,QWKH.!DUDRIDLQWKHLQGHVWUXFWLEOHWUDQVFHQGHQWDOILHOGDUHWKHFDVDJQLP
?OHSXURKLWDPHWF2IDOOWKHOHWWHUV,DPWKHOHWWHUD7KHVRXQGDLVWKHHVVHQFHRI
6D@KLW
D59BFRDN!DUH S
SDDUDPH Y\RPDQ\DVPLQGHYDGKLYLYHQL!HGX_\DVWDQD
YHGDNLPBFNDUL!\DWL\DLW WDGYLGXVWDLPHVDPVDWH7KHYHUVHVRIWKH9HGDH[LVWLQWKH
FROODSVRIIXOOQHVVWKHN!DUDRIDLQWKHLQGHVWUXFWLEOHWUDQVFHQGHQWDOILHOGLQZKLFKUHVLGH
DOOWKH'HYDVWKHLPSXOVHVRI&UHDWLYH,QWHOOLJHQFHWKH/DZVRI1DWXUH+HZKRVH
DZDUHQHVVLVQRWRSHQWRWKLVILHOGZKDWFDQWKHYHUVHVDFFRPSOLVKIRUKLP"7KRVHZKR
NQRZWKLVOHYHORIUHDOLW\DUHHVWDEOLVKHGLQHYHQQHVVLQZKROHQHVVRIOLIH 

E59DJQLP ?OH SX
SXUURKLWD@\DM`DV\DGHYDPBWYLMDPKRWUD@UDWQD GKWDPDP

F%K*DN!D
N!DUU>P DNUR
VPLGYD@GYD_VPVLNDV\DFDDKDPHYN!D\D_NOR
GKWKD@YLYDWR PXNKD_2IOHWWHUVWKHOHWWHU
D
,DPDQGWKHGXDORIDOOFRPSRXQGV,
DPDOVRWKHHYHUODVWLQJ7LPH,DPWKH6XSSRUWHUKDYLQJIDFHVLQHYHU\GLUHFWLRQ 

G$LWDUH\D#UD>\DND6D@KLWRSDQL!DG FKDQGD_SXUX!DLWL\DPDYRFPN!DUD 
VDPPQ\DHYDWDV\DLWDV\NURWDV\DHWDV\D DNURUDVD_7KDWZKLFKZHKDYHFDOOHGWKH
&KDQGDVSXUX!DLVWKHFROOHFWLRQRIOHWWHUV,W
VHVVHQFHLVWKHOHWWHU
D
 

cDHU@\D1PKWDHPK@\DQD7PDSXB[
-\DHLW;PW@SCDV?[5W0ZUDWSCD
D>RUD>?\QPDKDWRPDK?\QWPSXUX!D_
M\RWL!PDW?SUDM`VDL!DBWDPEKDUWDWUDSUDM`

9

7KH6HOILVVPDOOHUWKDQWKHVPDOOHVWDQGELJJHUWKDQWKHELJJHVW7KLVLV3XUX!D
7KLVLVFRQVFLRXVQHVVIXOORIOLJKW7KHUHLVWKHLQWHOOHFWZKLFKNQRZVRQO\WKHWUXWK
DE.DKD8D>RUD>
D>RUD>??\Q PDKDWR PD
PDKK?\Q WP
V\DMDQWRUQLKLWRJXK\PWDP
DNUDWX_SD\DWLY?WDRNRGKWXSUDVGQPDKLPQDPWPDQD_7KH6HOIVPDOOHUWKDQ
WKHVPDOOHVWDQGODUJHUWKDQWKHODUJHVWLVORGJHGLQWKHKHDUWRIFUHDWXUHV)UHHGIURP
VRUURZWKURXJKWKHWUDQTXLOOLW\RIWKHPLQGDQGWKHVHQVHVWKHXQVWULYLQJPDQVHHVWKDW
JUHDWQHVVRIWKH6HOI 

F<6YLRNY M\RWL!PDW
M\RWL!PDW??2UE\WKHH[SHULHQFHR ILQQHUOLJKWZKLFKLVIUHHIURP
VRUURZ

G<6BWDPEKD
BWDPEKDUU WDWUD SUDM`7KHUHUHVLGHVWKHLQWHOOHFWZKLFKNQRZVRQO\WKHWUXWK 

\G2L[GHYWD1GVWG2.VLKWDOP
5*YHG]XFHWQDDW2DQH\?NWD
\DGB!LGHYDWFKDQGDVWDGBNVD@KLWODN!D>DP
BJYHGD_XGGKDFHWDQM`WBM`QDM`H\DLNDW

!L'HYDWDQG&KDQGDVDUHWKHFKDUDFWHULVWLFRIJYHGD6D@KLWJYHGDLV
SXUHFRQVFLRXVQHVVWKHXQLW\RIWKHNQRZHUWKHSURFHVVRINQRZLQJDQGWKH
NQRZQ

5.VDP\MXUYRFWXYHRGDIPRP>OP
L]DN/SDH9\DNULQB1GDH-\DHLW[P
BNVPD\DMXUDWKDUYDFDWXUYHGGKDUPDPODP
LN!NDOSRY\NDUD>D@QLUXNWD@FKDQGRM\RWL!DP

CDK6WD?PXTPHYDHSDGD?FX PDW
,LW["HG6\D_DLQWD1\X&\1WHWDEXI?
JKU>D@KDVWDXPXNKDPHYD@URWUD@SGDXFDN!X_NUDPW
LWL!DYHGDV\^JQLWQ\XF\DQWHWDWKEXGKDL_

JYHGD6PDYHGD<DMXUYHGDDQG$WKDUYDYHGDDUHWKHIRXU9HGDV7KH\
DUHWKHVRXUFHRI1DWXUDO/DZ7KHQIROORZALN!.DOSD9\NDUD>D1LUXNWD
&KDQGDVDQG-\RWL!D7KHVDJHVFDOOWKHPWKHOLPEVRIWKH9HGD7KH\UHSUHVHQWWKH
QRVHWKHWZRKDQGVWKHPRXWKWKHHDUWKHWZRIHHWVDQGWKHH\HUHVSHFWLYHO\

10

DUHDVRI9HGDDQG9HGLF/LWHUDWXUHDFFRUGLQJWR0DKDULVKL
V9HGLF6FLHQFH 

E0DQX6PBWL YHGR
NKLOR GKDUPD
GKDUPDPODPVPBWL?OHFDWDGYLGPFUDFDLYD
VGKQPWPDQDVWX!LUHYDFD7KHZKROH9HGDLVWKHVRXUFHRI'KDUPDQH[WWKH
WUDGLWLRQ6PBWLDQGWKHYLUWXRXVFRQGXFWRIWKRVHZKRNQRZWKH9HGDDOVRWKHFXVWRPV
RIKRO\PHQDQGILQDOO\VHOI VDWLVIDFWLRQ

FE3>LQLALN! FKDQGD_ SGDXWXYHGDV\D KDVWDX NDOSR
WKDSDK\DWH M\RWL!P
D\DQD@ FDN!XU QLU
QLUXXNW
NWDD@ URWU
URWUDDPXF\DWH LN! JKU>D@WXYHGDV\D PXNKD@ Y\NDUD>D@
VPBWDPWDVPWV^JDPDGK ?W\DLYDEUDKPDORNHPDK?\DWH

cDHSD_DLQYHG6\1\D\DHY?]HL[NVD4\P
\DHJNPRP@PDVDYHGD1WHLWG]RQP
DWKRS^JQLYHGDV\DQ\\RYDLH!LND@V@NK\DP
\RJDFDNDUPDP?P@VYHGQWDFHWLGDUDQDP

1RZWKH8S^JDVWKHVXERUGLQDWHOLPEVRIWKH9HGD1\\D9DLH!LND
6@NK\D<RJD.DUPDP?P@VDQG9HGQWD7KHVHDUHWKHVL['DUDQDV

JD?WPNDGNLSOSWLO
M?LPLQEDRGUD\,7\XSD_DQDNWDRU
JDXWDPDFDND>GDFDNDSLODFDSDWD`MDOL_
MDLPLQLUEGDU\D>DLW\XS^JQ@NDUWUD_

7KH!LVRIWKH8S^JDVDUH*DXWDPD.D>GD.DSLOD3DWD`MDOL-DLPLQLDQG
%GDU\D>D9HGDY\VDUHVSHFWLYHO\

cDHSYHGDJ1IYRIQX6DS7\YHGD
KDU@WZHOND=\SVLKWDD\XYRHG6\
DWKRSDYHGJDQGKDUYDGKDQX_VWKSDW\DYHGFD
KU?WDEKHODN\DSDVD@KLWF\XUYHGDV\D

1RZWKH8SDYHGDV*DQGKDUYDYHGD'KDQXUYHGDDQG6WKSDW\DYHGD7KHQ
+U?WD6D@KLW%KHOD6D@KLWDQG.\DSD6D@KLWZKLFKEHORQJWR#\XUYHGD
 )R
)RXXU 8SDYHGDV*QGKDUYD9HGD'KDQXU9HGD6WKSDW\D9HGDDQG#\XU 9HGD
#\XU9HGDWH[WV+U?WD6D@KLW%KHOD6D@KLW.\DSD 6D@KLW&DUDND6D@KLW
&DUDNDWDQWUD6XUXWD6D@KLW6XUXWD$!^JDKBGD\D 6D@KLWRI9JEKDD

11

0GKDYD1LGKQDRU5XJYLQLFD\DRI0GKDYDAU^JDGKDUD 6D@KLWDQG%KYD 
3UDNDRI%KYDPLUD $FFRUGLQJWR&DUDND6D@KLW#\XU 9HGDZDVWDXJKWIURP
%UDKPWR'DN!DIURP'DN!DWRWKH$YLQVIURP$YLQVWR,QGUDIURP,QGUDWR
%KDUDGYMD%KDUDGYMDKDG3XQDUYDVX#WUH\DDQGRWKHUVDVGLVFLSOHV#WUH\D
VGLVFLSOHV
ZHUH$JQLYHD %KHOD-DWXNDU>D3DUDUD +U?WDDQG.!UDS>L$OOEHFDPHFHOHEUDWHG
DXWKRUVRIWUHDWLVHVRQ#\XU 9HGD7KH&DUDND6D@KLWLVDUHYLVHGDQGLPSURYHGHGLWLRQ
RIWKHWUHDWLVHRI$JQLYHDZKLFKZDVGHFODUHGWREHWKHEHVWSURGXFWLRQ 


FUNW1VXXWWDYD*ZVLKWD
cPDIYLQGDQ]D_RIUVLKWDF
FDUDNDWDQWUD@VXUXWD@WDWKYJEKDDVD@KLW
DWKDPGKDYDQLGQD@U^JDGKDUDVD@KLWFD

ZDYSCND]VLKWD[D\XYRHGVLKWD
cD\XYRHGDH'P2WDQDLKI1Y1WUHQPDH'6WXWH
EKYDSUDNDVD@KLW!D\XUYHGDVD@KLW_
\XUYHGR
PBWQ@KLGKDQYDQWDUHQDPR
VWXWH

&DUDND6D@KLW6XUXWD6D@KLWDQG9JEKDD6D@KLW7KHQ0GKDYD
1LGQDAU^JDGKDUD6D@KLWDQG%KYD3UDND6D@KLW7KHVHDUHVL[
#\XUYHGD6D@KLWV#\XUYHGDEHORQJVWRWKHLPPRUWDOV'KDQYDQWDUL6DOXWDWLRQ
WR\RX
F&DUDND6D@KLW6WUD6WKQDDWREK\D_NDUPDX!DGKQ@FDSUGKQ\DWD_
VQXEDQGKQLGUDY\>\DQXY\NK\V\PD_WDG\DWKDQQD@YBWWL NDU>@
UH!KD@ \XUY
\XUYHHGR
PBWQPVDGYDFDQDPDQX!KH\ QPDVDGJUDKD>D@
VDUYKLWQ@VDUYD VDQQ\VD_VXNKQPLWL:HVKDOOGHVFULEHVRPHPRUHGUXJVIDFWRUV
DQGGLHWVWKDWDUHLPSRUWDQWIURPWKHSRLQWRIYLHZRIWKHLUXWLOLWLHVDQGDFWLRQV7KH\DUH
DVIROORZV$QQDRUIRRGIRUVXVWDQHQFHRIOLIH .QRZOHGJH RI #\XUYHGD 6FLHQFH RI
OLIH EULQJLQJ DERXW LPPRUWDOLW\:RUGVRIQREOHSHUVRQVUHTXLULQJWREHFRPSOLHGZLWK
:RUGVRIZLFNHGOHDGLQJWRKDUPIXOUHVXOWV$QDEVROXWHGHWDFKPHQWIURP
DFWLRQVJLYLQJKDSSLQHVV 

8SLQ[GDU\NECDFYHGQDP
,LWKDVSXUD6P2LWHLWJ6\D1W
XSDQL!DGUD>\DND@EUKPD>D@FDYHGDQPD
LWLKVDFDSXU>D@VPBWLFHWLJD>DV\QWD_


12

8SDQL!DG#UD>\DNDDQG%UKPD>DZKLFKKDVEHVLGHV0DQWUDWKHQDPH

9HGD,WLKVD3XU>DDQG6PBWLDUHDWWKHHQGRIWKLVJURXS
E#SDVWDPED3DULEK!D6WUDPDQWUDEUPD>D\RU YHGD
YHGDQ
QP
PDGKH\DP0DQWUDDQG
%UKPD>DWRJHWKHUFRQVWLWXWH9HGD 

cDWSCDLW]D4\DLQFWXYRHG\XDLQLK
5*YDMVQH\YRSCDLW]D4\D1\JCH\P
DWKWD_SUWLNK\QLFDWXUYHGD\XNWQLKL
BJYMDVDQH\\DWKDUYDSUWLNK\Q\DJUHWUD\DP

$QGQRZILQDOO\WKH3UWLNK\DVZKLFKDUHFRQQHFWHGZLWKWKHIRXU9HGDVN
3UWLNK\D9MDVDQH\L3UWLNK\DEHORQJLQJWRAXNOD<DMXUYHGDDQG
$WKDUYDYHGD3UWLNK\DIRUPWKHILUVWWULSOHW
:KDW DUH 3UWL
3UWLNNK\DV"7ZRVXEMHFWVDUHIRXQGWREHIXOO\WUHDWHGLQDOOWKH
3UWLNK\DV3KRQHWLFV(QXPHUDWLRQFODVVLILFDWLRQDQGGHVFULSWLRQRIDOSKDEHWLF
VRXQGVTXDQWLW\DFFHQWHWF6DQGKLUXOHVJHQHUD ODQGSDUWLFXODUE\ZKLFKWKH
XQFRPELQHGZRUG WH[W3DGDSKDLVFRQYHUWHGLQWRWKHFRPELQHGWH[W6D@KLW SKD

cFWXU)\D\@FW?LU@\SCDLW]D4\P
c1WHSX;SV>FHLWWDLQ[SCDLW]D4\DLQ
DWKDFDWXUDGK\\?FDWDLWWLU?\DSUWLNK\DP
DQWHSX!SDVWUD@FHWLWQL!DSUWLNK\QL

7KHQ&DWXUDGK\\?EHORQJLQJWR$WKDUYDYHGD7DLWWLU?\D3UWLNK\DRI.B!>D
<DMXUYHGDDQGILQDOO\3X!SD6WUDD3UWLNK\DRI6PDYHGD7KHVHDUHVL[
3UWLNK\DV

VLKWD\D6YUVLIS>YRSU\DHUHNWD
cDXDHY2LUHF@LWcNVYRHG@
R
VD@KLW\@VYDUDVD@GKL_SUYDSDUD\RUHNDW
GJX>RYBGGKLUHF?WLDND_VDYDU>HG?UJKDFD




13

,QDQXQEURNHQIORZRIVSHHFK6D@KLW9RZHO6DQGKLWDNHVSODFH2QHIRUWKH

SUHYLRXVDQGWKHIROORZLQJOHWWHU*X>DUHSODFHVDRUDQGDIROORZLQJYRZHO
9BGGKLUHSODFHVDRUDQGDIROORZLQJGLSKWRQJ$ORQJYRZHOUHSODFHVDVLPSOH
YRZHODQGDIROORZLQJKRPRJHQRXVYRZHO



9RZHO
9RZHO6DQGKL DFFRUGLQJ WR 3>LQL DQG JYHGD
JYHGD3UWLNK\D
36 3>LQL6WUD53 JYHGD3UWLNK\D93 9MDVDQH\L 3UWLNK\D73 
7DLWWLU?\D3UWLNK\D&$ &DWXUDGK\\ ?

D36VD@KLW
VD@KLW\P,QDQXQEURNHQIORZRIVSHHFK $GKLNUDRUJRYHUQLQJVWUD
VYDUD YRZHOLQ3UWLNK\DV 

E36HND_ S
SUYD
UYDSDUD\R_)RUWKHSUHFHGLQJDQGWKHIROORZLQJRQHLVVXEVWLWXWHG
53HNDPXEKHVYDUDPVHHE93 DWKDLNDPXWWDUDFD73 
DWKDLNDPXEKH&$ SUYD
SUYDSDUD\RU HND_

F36G JX>D_DFLHND_SUYDSDUD\R_VD@KLW\P*X>DUHSODFHVDRUDQG
DIROORZLQJYRZHO53 LNURGD\DHNUDPDNUD_VRGD\D_VHHFG53 WDWK
XNURGD\DRNUDPVHHG D93ND>K\GLYDU>DHNUDP XYDU>D
RNUDP73DWKYDU>DSUYHLYDU>DSDUDHNUDPXYDU>DSDUDRNUDP
&$DYDU>DV\HYDU>DHNUD_ XYDU>DRNUD_
36YBGGKLU HFLWHND_SUYDSDUD\R_VD@KLW\P9BGGKLUHSODFHVDRUDQGD
IROORZLQJGLSKWRQJHRDLDQGDX53 SDUH!YDLNUDPRMD\R_VHHE 
DXNUD@\XJPD\R_VHHF93 VD@GK\DN!DUDDLNUDXNUDX73 HNUDLNUD
SDUDDLNUDPRNUDXNUDSDUDDXNUDP&$ HNUDLNUD\RUDLNUD_ 
RNUDXNUD\RUDXNUD_ 

G36DND_ VDYDU>H G?UJKD_DFLHND_SUYDSDUD\R_VD@KLW\P$ORQJ
YRZHOUHSODFHVDVLPSOHYRZHODNDQGDIROORZLQJKRPRJHQHRXVYRZHO53 
VDPQN!DUHVDVWKQHG ?UJKDPHNDPXEKHVYDUDPVHHDE93 VL@VDYDU>H
G?UJKDPVLPGLWR
!DXVYDU>P 73G?UJKD@VDPQN!DUHVDYDU>D SDUH
&$VDPQN!DUDV\DVDYDU>HG ?UJKD_

cGH_XDHY2LUDG?M8UUSU,LWF
PKH=YUPKD,R]PK[RHSXB[DHP
DGH^JX>RYBGGKLUGDLMXUD>UDSDUDLWLFD
PDKHYDUDPDK?DPDKDU!HSXUX!RWWDPD

DHDQGRDUHFDOOHG*X>DDLDQGDXDUHFDOOHG9BGGKL:KHQDOHWWHURID>
3UDW\DKUDDL?XUHSODFHVBRU;WKHQLWLVDOZD\VIROORZHGE\U([DPSOHV
0DKHYDUD0DKaD0DKDU!L3XUX!RWWDPD

14

D36DG H^ JJX
X>D_6KRUWDHDQGRDUHFDOOHG*X>D 3UDW\DKUDH^ HRVHHD
ALYD6WUDVDW DLWOHWWHU
W
 VKRUWD36WD SDUDVWDWNODV\D
36 YBGGKLU G DL
DLFFDLDQGDXDUHFDOOHG9BGGKL 3UDW\DKUDDLF DLDXVHHD
ALYD6WUDVW LWOHWWHU
W
 ORQJ 

E36XU D> UUDDSDUD_$YRZHOUHSUHVHQWHGE\WKH3UDW\DKUDD>DL ?X
VXEVWLWXWHGLQWKHSODFHRIBRU;LVDXWRPDWLFDOO\IROORZHGE\U X_ !D!K?YLEKDNWL
JHQLWLYHHNDYDFDQVLQJXODURIB $JHQLWLYHHQGLQJVLJQLILHVWKHUHODWLRQ
LQWKHSODFH
RI
36!D!WK?VWKQH\RJ

FG([DPSOHV 0DKH
0DKHYDUD 0DKaYDUD 0DK  a 0DKHD 0DKDU!H 0DK!H
3XUX!RWWDPD 3XUX!D8WWDPD 7KHFDVHRIWKHVHZRUGVLV6DPERGKDQD SUDWKDP
1RPLQDWLYHRIDGGUHVV9RFDWLYH 

cD7PD(Y,GVYRPcD7P?YHGVYRLPLW
SXB[8PECQPKD5[HQPDH'6WXWH
WPHYDLGD@VDUYDPWPDLYHGD@VDUYDPLWL
SXUX!DXWWDPDEUDKPDQPDKB!HQDPR
VWXWH


WPHYDLGDPVDUYDP
EHFRPHV
WPDLYHGD@VDUYDP
3XUX!D8WWDPD
%UDKPDQ0DK!L6DOXWDWLRQWR\RX
DEWP  HYD WPDLYDWPDLYDLGDP  WPDLYHGDP

FG3XUX!
3XUX!DD  8WWDPD 3XUX!RWWDPD 0DK  !H 0DKDU!H

PKL[RV6W8]DN/\6\PK5L[
5NDU8G\HN<D?cNDUWGXGJCDKYW
PDKDU!L_VD@VNBWDXNWD@NDO\DV\DPDKDB!L_
BNUDXGD\HND>K\DXDNUD@WDGXGJUKDYDW

,Q6DQVNULWRQHVD\V
0DKDU!L
EXWDFFRUGLQJWR6NDO\DLQWKH9HGLFODQJXDJH

0DKDB!L
DRUIROORZHGE\BDUHUHSODFHGE\D7KLV6DQGKLKDVWKHQDPH
8GJUKDYDW
E36BW\DND_ ANDO\DV\DKUDVYD_SUDNBW\$FFRUGLQJWRWKHRSLQLRQRI
ANDO\DDVLPSOHYRZHODNIROORZHGE\BUHWDLQVLWVRULJLQDOIRUPDQGLIWKHVLPSOH
YRZHOLVORQJLWLVVKRUWHQHG([DPSOH 0DK
0DKDB!L_
DB!L_ 0DK!L_


15

FG53BNUD X
XGGD\H ND>K\Y DNUD@ WWDDG XG
XGJJUKDYDW7KH6DQGKL
DB DB
KDVWKH
QDPH8GJUKDYDW 8GJUKDYDW 
OLNH8GJUKD
8GJUKD6DQGKLFDXVHVWKHFKDQJHRI
D_HDQGRWRDEHIRUHDIROORZLQJYRZHO 

QcSUDHEC(YM@YDHEC?YQDSU
W\ELKRL[SCD?QPKD?[LILP&D0\KP
QDDSDUREUDKPDHYDM?YREUDKPDLYDQSDUD_
WD@\DM`D@EDUKL!LSUDXN!DQPDKDX!DGKLPLFFKP\DKDP


QDDSDUREUDKPDHYD
EHFRPHV
M?YREUDKPDLYDQSDUD_

WDP\DM`D@EDUKL!L
SUDXN!DQ
SUDDXN!DQ
PDKDX!DGKLPLFFKP\DKDP
PDKR!DGKLP
DE0RUHH[DPSOHV QD  DSDUD_ QSDUD_EUDKPD  HYD EUDKPDLYDVHHE

F59WD@ \\DDM`D@ EDUKL!L SUDXN!DQSXUX!D@MWDPDJUDWD_WHQDGHYD\DMDQWD
VGK\B!D\DFD\H7KDW3XUX!DERUQLQWKHEHJLQQLQJWKH\EHVSULQNOHGDVDVDFULILFHRQ
WKHVWUHZ:LWKKLPWKHJRGVWKH6GK\DVDQGWKHVHHUVVDFULILFHG3DGD3KDZRUG 
WH[WWDP \DM`DP EDUK
EDUKLL!L SUD DDXXN!DQSXUX!DPMWDPDJUDWD_WHQDGHY_D\DMDQW D
VGK\_B!D\D_FD\H URRWXN! VSULQNOH

GPDKDX!DGKLPLFFKP\DKDP,ZLVKWRILQGDJUHDWKHUEPDKR!DGKLP 

VPDQDUHV6DQHG@
RPHNPXZH6YUP
,NDUDHG\(NDUPcNDUVDHG\6WD
VDPQN!DUHVDVWKQHG?UJKDPHNDPXEKHVYDUDP
LNURGD\DHNUDPDNUD_VRGD\DVWDWK

8NDUDHG\cDHNDUSUH;Y?NDUPDHM\DH
cD?NDU\X*P\DHUHWHSCL=ODQDPVI\
XNURGD\DRNUD@SDUH!YDLNUDPRMD\R_
DXNUD@\XJPD\RUHWHSUDOL!QPDVD@GKD\D_

7ZRVLPSOHYRZHOVFRPLQJWRJHWKHUDQGKDYLQJWKHVDPHSODFHRI
DUWLFXODWLRQERWKDUHUHSODFHGE\RQHORQJYRZHO7KHOHWWHUDRUDQGWKH
IROORZLQJOHWWHULRU?DUHERWKUHSODFHGE\WKHOHWWHUH,IWKHIROORZLQJOHWWHULVXRU
WKHQWKHUHSODFHPHQWLVWKHOHWWHUR,IHRUDLIROORZVDRUWKHQWKHOHWWHUDL
UHSODFHVERWKYRZHOV,IRRUDXIROORZVWKHQWKHUHSODFHPHQWLVWKHOHWWHUDX7KHVH
6DQGKLVKDYHWKHQDPH3UDOL!D

16

53VDPQ
VDPQN!DUH VDVWKQH GG??UJKDP HNDP XEKH VYDUDPVHHGQRWHV53 
LNUR
LNURGD\D
GD\D HN
HNUDP DN
WDWWK XNURGD\
DNUD_ VRGD\D_53WD
XNURGD\DD RNUD
RNUDP
P VHHFQRWHV53 
VHHFQRWHV53
HWH SUDOL!
SDUH!YDLNUD
SDUH!YDLNUDP
DXNUD@ \XJP
P RMD\R_53DXN
XJPDD\R_
QPD VD@GK\D_7KHVH6DQGKLV KDYHWKHQDPH3UDOL!DDD L?L? 
?XX B;B; ;DL ? HDX RDHDL DLDRDX 
DX

,NDH\F@LWVLI6YD?h<DHVVXS6PUD0\KP
VY!TL/YGECHLWcD7P1\HYTOX,GP
LNR\D>DF?WLVD@GKL_VYDX^\RVVXSD_VPDUP\DKDP
VDUYD@NKDOYLGD@EUDKPHWLWPDQ\HYDNKDOXLGDP

1RZWKH6DQGKLLQZKLFKWKHSUDW\DKUDLNL?XB; IROORZHGE\DFD
YRZHOLVUHSODFHGE\WKHFRUUHVSRQGLQJVHPLYRZHO\D>\YUO$VH[DPSOHV,
UHPHPEHUWKHFDVHHQGLQJVVYDXVXDXDQG^\RV^LRV2WKHUH[DPSOHVDUH

VDUYD@NKDOYLGDPEUDKPHWL
DQG
WPDQ\HYDNKDOXLGDP

D36LN
LNRR \D> DFLVD@KLW\PLND_ !D!K?JHQLWLYHRILNVLJQLI\LQJ
LQWKH
SODFHRILN
DFL VDSWDP ?ORFDWLYHRIDFVLJQLI\LQJ
LQWKHSODFHEHIRUHDF
36 
WDVPLQQLWLQLUGL!HSXUYDV\D LN\D>DQGDFDUH3UDW\DKUDVVHHDQRWHVALYD6WUDV 

E([DPSOHV36 VY DX MDV^\RVVXS3UDWKDP9LEKDNWL1RPLQDWLYH  VXDX
MDV HNDYDFDQGYLYDFDQEDKXYDFDQ VLQJXODUGXDOSOXUDO6DSWDP ?/RFDWLYH 
^LRVVXS

FG&K8VD
VDUUYD@ NKDOYLGD@  NKD
NKDOOX  LGDP EUDKPDVHHDQRWHVWPDQ\HYD 
WPDQLHYD,QWKH6HOILQGHHG 

VPDQDUP1W6D6YDPN<6YUDHG\P
QVPDQDUH6YH6YHWH?SCDSCDWDHG\D
VDPQN!DUDPDQWDVWK@VYPDND>K\D@VYDURGD\DP
QDVDPQN!DUHVYHVYHWHN!DLSU_SUNBWRGD\_
$VLPSOHYRZHOH[FHSWDRUZKLFKLVIROORZHGE\DYRZHOLVUHSODFHGE\WKH
FRUUHVSRQGLQJVHPLYRZHO%XWQRWZKHQWZRKRPRJHQHRXVVLPSOHYRZHOVFRPH
WRJHWKHU7KHVH6DQGKLVKDYHWKHQDPH.!DLSUDLQZKLFKWKHIROORZLQJOHWWHU
UHPDLQVXQFKDQJHG

17

53VDPQN!
VDPQN!DDUDP DQWDVWK@ VYP DN
DNDD>K\@ VYDURGD\DP53QD VDPQN!DUH
VYH VYH53WH N!D
N!DLLSU_ SU
SUNNBWRGD\_93VYDUHEKY\DQWD_VWKP$YRZHO
FDOOHGEKYLQEHFRPHVDVHPLYRZHOZKHQDYRZHOIROORZV DND>K\REKY?$YRZHO
RWKHUWKDQDJXWWXUDORQHLHH[FHSWLQJDLVFDOOHGEKYLQ73 LYDU>RNUDX\DYD
NUDX$QLYRZHOL?DQGXEHFRPHVUHVSHFWLYHO\\DQGY&$ VYDUHQPLQR

QWD_VWK%HIRUHDYRZHODQDOWHUDQWYRZHOEHFRPHVDVHPLYRZHO 

(FDH'\YD\DYVLIUODHS]DN/\6\HLW9\DH
(hSGD1WDGW@LWWGLQ\PV>LYL
HFR
\DY\YD_VD@GKLUORSD_NDO\DV\HWLY\R_
H^D_SDGQWGDW?WLWDGQL\DPDVWUD@YLGGKL

1RZWKH6DQGKLLQZKLFKWKHYRZHOHRDLRUDXIROORZHGE\DYRZHOLV
UHSODFHGE\D\DY\RUYUHVSHFWLYHO\YDQG\SUHFHGHGE\DRUDQGDWWKH
HQGRID3DGDDUHHOLGHGEHIRUHDQDOHWWHUDFFRUGLQJWRWKHRSLQLRQRIANDO\D
.QRZWKHIROORZLQJ6WUDDVDQH[FHSWLRQ,QWKHSODFHRIHRURILQDOLQD3DGDDQG
DIROORZLQJVKRUWDLVVXEVWLWXWHGWKHVLQJOHYRZHOLQWKHIRUPRIWKHILUVWHRUR
D36HF
HFRR
\
\YD_DFLVD@KLW\PHRDLDXDF D\DY\YDF 

\DY\

E36ORSD_ NDO\DV\DY\R_DLSDGDV\DVD@KLW\P SUDW\DKUDD YRLFHG
VRXQG7KHQDPHRIANDO\DV\DLVXVHGWR PDNHLWDQRSWLRQDOUXOH 

FG36H^D_ SDGQWG DWL SUYD_HND_SUYDSDUD\R_VD@KLW\PHRD
HR7KLV6WUDUHVWULFWV,WLVFODVVLILHGDVDQ1L\DPD 6WUD5HVWULFWLRQ6WUD

GCX6YU>SH'Y6DQ\,LGX6W,PH
cL*QYDRcKP6P@LWWD6\LYMDLYLW
GUD!X_VYDUSH
YDVWKQD@\DLWWDGYLGXVWDLPH
DJQLUYDKDPDVP?WLWDGGKV\DYLMDM`YLWL

([DPSOHV
GUD!X_VYDUSH
YDVWKQDP
VYDUSHDYDVWKQDP
\DLWWDG
YLGXVWDLPH
\HLWWHLPH
DJQLUYDKDPDVP?WL
YDLDKDP
WDGGKV\D
YLMDM`YLWL
YLMDM`DXLWL
([DPSOHVD<6 WDG GUD!X_ VYD
VYDUUSH
YDVWKQDPVHHF36

E59 \D LWWDGYLGXVWD LPHVDPVDWHVHHD3DGD 3KDZRUGWH[W\HLW
WDWYLGXVWHLPHVDPVDWH 36DQG


18

F.HQD8WDGDEK\DGUDYDWWDPDEK\DYDGDWNR
V ?WL DJQLU Y DKDP DVP
DVP??W\DEUDY?W
MWDYHGYDKDPDVP ?WL+HKDVWHQHGWRZDUGVLWDQGLWVDLGWRKLP
:KRDUWWKRX"
$JQL
UHSOLHG
,DP$JQLLQGHHG,DP-WDYHGDV
 YDLDKDP Y\DKDP YDKDP36


G&K8VD\DWKWDWUDQGK\HWDDLWDG WP\DPLGD@VDUYD@WDWVDW\D@VD
WPWDWWYDPDVLYHWDNHWRLWL WDGG KV\D YL
YLMMDM`Y LWLYLMDM`YLWL$QG DVLQWKLVFDVHKH
ZRXOGQRWEHEXUQWWKXVKDVDOOWKLVWKDWIRULWVVHOI7KDWLVWKHWUXH7KDWLVWKH6HOI7KDW
DUWWKRXAYHWDNHWX7KHQKHXQGHUVWRRGIURPKLP\HDKHXQGHUVWRRG YLMDM`DXLWL 
YLMDM`YLWL36 

cSD?B[H\LQ7\FYHGLYGXPRQ@L[
Z>WZ9\ZLY;\FVY!YHGD7SCLV)\LW
DSDXUX!H\D@QLW\D@FDYHGD@YLGXUPDQ?!L>D_
EKWD@EKDY\D@EKDYL!\D@FDVDUYD@YHGWSUDVLGK\DWL

7KH!LVNQRZ9HGDDVQRQPDQPDGHDQGHWHUQDO3DVWSUHVHQWDQGIXWXUH
HYHU\WKLQJLVSURGXFHGIURP9HGD
FG0DQX6PBWL FWXUYDU>\D@WUD\RORNFDWYUDFUDP_SBWKDN EKWD@
EKDY\D@ EKDYL!\D@ FD VDUYD@ YHGW SUDVLGK\DW
UDVLGK\DWLL7KHIRXUFDVWHVWKHWKUHHZRUOGVWKHIRXU
RUGHUVWKHSDVWWKHSUHVHQWDQGWKHIXWXUHHYHU\WKLQJLVSURGXFHG IURP9HGD

]D1WL]YP?WFFWX!P1\1W,LW
V$D7PDVLYH\DHLKVYHGDHLY=YECF
QWD@LYDPDGYDLWD@FDFDWXUWKD@PDQ\DQWDLWL
VDWPVDYLM`H\RKLVDYHGRYLYD@EUDKPDFD

7KH\WKLQNWKH)RXUWKLVWKHSHDFHIXOWKHDXVSLFLRXVDQGWKHQRQGXDO7KDWLV
WKH6HOIWKDWVKRXOGEHNQRZQ7KDWLV9HGD9LYDDQG%UDKPDQ
DEF0>N\D8QQWD_SUDM`D@QDEDKL_SUDM`D@QREKD\DWD_SUDM`D@QD
SUDM`JKDQD@QDSUDM`D@QSUDM`D@DGB\DPDY\DKU\DPDJUK\DPDODN!DQDP
DFLQW\DPDY\DSDGH\DPHNWPD SUDW\D\DVUD@SUDSD`FRSDDPD@ QWD@ LYD@
DGYDLWD@ FDWXUWKD@ P
YLM`H\\D_7XU?\DLVQRWWKDWZKLFKFRJQLVHVWKH
PDDQ\DQWHVD WP VD YLM`H
LQWHUQDOREMHFWVQRWWKDWZKLFKFRJQLVHVWKHH[WHUQDOREMHFWVQRWZKDWFRJQLVHVERWKRI
WKHPQRWDPDVVRIFRJQLWLRQQRWFRJQLWLYHQRWQRQ FRJQLWLYH,WLVXQVHHQLQFDSDEOHRI
EHLQJVSRNHQRIXQJUDVSDEOHZLWKRXWDQ\GLVWLQFWLYHPDUNVXQWKLQNDEOHXQQDPHDEOH
WKHHVVHQFHRIWKHNQRZOHGJHRIWKHRQH6HOIWKDWLQWRZKLFKWKHZRUOGLVUHVROYHGWKH

19

SHDFHIXOWKHEHQLJQWKHQRQ GXDOVXFKWKH\WKLQNLVWKHIRXUWKTXDUWHU+HLVWKH6HOI
+HLVWREHNQRZQ 

VDH'P2W7YVSCDQVDH'KLPLWWYPKP

$KLPGVY!ECQHKQDQDL6WLNFQ
VR
PBWDWYD@VDSUDM`QD@VR
KDPLWLWDWWYDPDKDP
DKDPLGD@VDUYD@EUDKPDQHKDQQVWLNL@FDQD

7KDWLVLPPRUWDOLW\7KDWLVFRQVFLRXVQHVVDQGLQWHOOLJHQFH7KDW,DP,DPWKDW
5HDOLW\,DPDOOWKLVZRUOG,DP%UDKPDQ1RWLVDQ\GLIIHUHQFHKHUH
D$LWDUH\D8 SUDM`QD@ EUDKPD&RQVFLRXVQHVVLV%UDKPDQ 

G.DKD8PDQDVHYHGDPSWDY\D@ QHKD Q
QQVWL NL`F
NL`FDDQDPBW\R_VDPBW\X@
JDFFKDWL\DLKDQQHYDSD\DWL7KLVLVWREHDWWDLQHGWKURXJKWKHPLQGLQGHHG7KHUHLVQR
GLYHUVLW\KHUHZKDWVRHYHU+HZKRVHHVDVWKRXJKWKHUHLVGLIIHUHQ FHKHUHJRHVIURP
GHDWKWRGHDWK 

$LS_OV>DLI@@6@LPLWJD\@
JD\\DYVYSDG,\DLGS>U6WD
DWKDSL^JDODVWU>LGK?U?VWU?PLWLJ\DWU?
J\DWU\YDVDYD_SGDL\GLSUD>DVWDWK

1RZWKH&KDQGDV6WUDVRI3L^JDOD
GK?U?VWU?
UHSUHVHQWLQJWKUHHKHDY\
JXUXV\OODEOHVGHILQHWKHP*D>D7KHPHWHU*\DWU?7KH3GDRI*\DWU?KDV
HLJKWV\OODEOHV,IWKH3GDLVLQFRPSOHWHWKHQLWVKRXOGEHILOOHGXSE\UHVROYLQJ\
LQWRL\HWF([DPSOHV
 &KDQGDV
&KDQGDV6WUDV RI 3L^JD
OD &
&K6
3L^JDOD

DE&K6GK
GK??U
U??VWU
WU?? PYDUV\NJXKUYDVXGKVVWHNYDW
NDGWDMNL@YDGDEKQDKDVDQJBOJDQWH FKDQGD_
J\DWU
J\DWU??
$V\OODEOHFRQWDLQLQJDORQJ YRZHO?;HDLRDXRUDVKRUWYRZHODLXB 
ZKLFKLVIROORZHGE\WZRRUPRUHFRQVRQDQWVLVFDOOHGKHDY\JXUXJ([DPSOHVGK ?U?
VWU?VD@LQVD@KLWDWLQDWUDD^LQD^JDKD@LQDKD@EUDKPVPL2WKHUV\OODEOHVDUH
FDOOHGOLJKWODJKXO([DPSOHVDLQDWKDWKDLQDWKDYDLQYDVXGKVXLQYDVXGK 
7KHHLJKW*D>DVGHILQHGLQ&K6 PJJJ\OJJUJOJVOOJWJJOMOJOEKJOO
QOOO
20


FG&K6SGD_ L\
L\GL
GLSUD>D_J\DWU\ YDVD
YD_MDJDW\GLW\_ 
YDVDYD_
YLUMRGLD_WUL!XEKRUXGU_

,RL\DHQ>WQ?BW\G_GD]X[HWXYP
YDIRPDQVXYHGPHVF6YDQVXY6W\H
?L\RQWDQDLUXWD\DGD^JDGX!HWXYDP
YUGKDPQD@VXYHGDPHVDFDVYQD_VXYDVWD\H


?L\RIRU?\RQWDQDLUXWD

\DGD^JDGX!HWXYDPIRUWYDP


YDUGKDPQD@VXYHIRUVYHGDPH


VDFDVYQD_VXYDVWD\HIRUVYDVWD\H

([DPSOHVIRU&K6 5HVW
5HVWRRULQJ LQFRPSOHWH 3GDV

D59DJQL_SUYHEKLUB!LEKLU ?L\R QWDQDLUXWDVDGHY@HKDYDN!DWL 7KH
VHFRQG3GDZLWK
?\R
KDVRQO\V\OODEOHV 

E59\DGD^J
\DGD^JDD GX!H WXYDPDJQHEKDGUD@NDUL!\DVLWDYHWWDWVDW\DPD^JLUD_ 
7KHILUVW3GDZLWK
WYDP
KDVRQO\V\OODEOHV 

F59UMDQWDPDGKYDU>DDPJRSPBWDV\D G?GLYLP YD
YDUUGKDPQD@ VXYH GDPH7KH
WKLUG3GDZLWK
VYH
KDVRQO\V\OODEOHV$OVRWKHILUVW3GDZLWK
DGKYDU>P
KDVRQO\
V\OODEOHV$9HGLF*UDPPDU)RU6WXGHQWV$0DFGRQHOOSDJH
7KHORQJYRZHORI
WKHJHQSOHQGLQJPPXVWRIWHQEH SURQRXQFHGDVHTXLYDOHQWWRWZRVKRUWV\OODEOHV
 $
6DQVNULW5HDGHU&K/DQPDQ1RWHVWR3DJH 
:HPD\SURQRXQFHDGKYDUQDP
RUOHDYHWKHSGDFDWDOHFWLF


G59VDQD_SLWHYDVQDYHDJQHVS\DQREKDYD VDFDVY QD_ VXYDVWD\H7KH
VHFRQG3GDZLWK
JQHKDVRQO\V\OODEOHV$OVRWKHWKLUG3GDZLWK
VYDVWD\H
 

$QX%Y.SDG6\\FWXRD7S\D\XMDHM
WDUDPD\=ODHNDHYD/P@LNNLYQDW
DQX!XEYDNWUDSGDV\D\DFDWXUWKWSDWK\\XMRM
WDWKUP\D>DORNRYOP?NLNDYLQNBWD_

,QWKH3GDRIWKH$QX!XEKPHWUH9DNWUDWKH*D>D\IROORZVWKHIRXUWK
V\OODEOH7KLVPHWUHKDVWKHQDPH3DWK\LIWKH*D>DMLVSODFHGDIWHUWKHIRXUWK
V\OODEOHRIWKHHYHQ3GDVWZRDQGIRXU7KLVLVWKHAORNDRI5P\D>DFRJQL]HG
E\WKH.DYL9OP?NL

21

DE&K6SGDV\
SGDV\QX!XE
QX!XEYDNWUDPQDSUDWKDPWVQDX GYLW?\DFDWXUWKD\RUD
FDYQ\DW\D FDWXUWKW SDWK\ \XMR M

FG7KHAORNDRI5P\D>D 3DWK\YDNWUD&K6[[[[OJJ[[[[[OJO[EXWQRW 
[OO[IRUV\OODEOHVRIDQ\3GD&K6DQGQRW[JOJIRUV\OODEOHV RI3GDV
DQG&K6

\UWDZMVDPQD?LYSXOD\X*OV3WP
VYRWV?WY6\HLWZCD?1WD?FLYSXOD\D
\DUDWEKDMDVPDQDXYLSXO\XJOD_VDSWDPD_
VDUYDWD_VDLWDYDV\HWLEKUDXQWDXFDYLSXO\DWK

7KHHLJKW*D>DVDUH\DUDWDEKDMDVDPDDQGQD,QWKH9LSXOPHWUHWKH
VHYHQWKV\OODEOHRIWKHHYHQ3GDVLVVKRUWODJKX$FFRUGLQJWR6DLWDYDLQDOO
3GDV$QGWKH*D>DEKUQRUWIROORZVWKHIRXUWKV\OODEOHRIWKHRGG3GDV
9LSXOH[DPSOHV
D%K!\DRI+DO\XGKDRQ3L^JDOD6WUD GLPDGK\YDVQH!X \D
\DUD
UDW\QWL
OJKDYDP EKD
EKDMD
MDVJDXUDYD@\QWL PD
PDQDXWXJXUXOJKDYDP\DUDWD OJJJOJ
JJOEKDMDVD JOOOJOOOJPDQD JJJOOO 

EFG&K6YLSX
YLSXOO \XJOD_ VDSWDPD_VDUYDWD_ VDLWDYDV\DEKUDX QWDX FD

SC\DNDOH'LSFPDWHLYGX\XRFHWV
I2NHWXHLNWDQNDL]UDMY@\RYDQ
SUD\>DNOH
SLFDP@WHYLGXU\XNWDFHWDVD_
GKB!DNHWXFHNLWQD_NLUMDFDY?U\DYQ


SUD\>DNOH
SLFDP@WHYLGXU\XNWDFHWDVD_

GKB!DNHWXFHNLWQD_
NLUMDFDY?U\DYQ

([DPSOHVIRU9LSXOPHWUH 

DE%K*EKD9LSXO[[[[JOO[[[[[OJO[ 

FG%K*UD9LSXO[[[[JOJ[[[[[OJO[

$K76Q6\MJWSCZYSCO\6WD
IPDRLYBDHZ>WH[XNDPDH'L6PZUW[RZ

22

DKD@NBWVQDV\DMDJDWD_SUDEKDYD_SUDOD\DVWDWK
GKDUPYLUXGGKREKWH!XNPR
VPLEKDUDWDU!DEKD


DKD@NBWVQDV\DMDJDWD_SUDEKDYD_SUDOD\DVWDWK

GKDUPYLUXGGKREKWH!X
NPR
VPLEKDUDWDU!DEKD

DE%K*QD9LSXO[[[[OOO[[[[[OJO[ 

FG%K*PD9LSXO[[[[JJJ[[[[[OJO[QRWPHQWLRQHGE\3L^JDOD 

,1GCYMCDWD?-JD?LJLW$D1WDYXSMDW\
MJW@Y]6D-WD?-UD?VD?VDLYLW\D?\DLYLW
LQGUDYDMUWDXMJDXJLWLG\DQWYXSDMWD\D_
MDJDW?YD@DVWKMWDXMUDXVDXVYLWL\DX\YLWL

7KH7UL!XEKPHWUH,QGUDYDMULVGHILQHGWKURXJKWWMJDQGJ&RPELQDWLRQV
RI,QGUDYDMUDQG8SHQGUDYDMU3GDVDUHFDOOHG8SDMWL7KH-DJDW?PHWUH
9D@DVWKKDVWKHIROORZLQJGHILQLWLRQMWMDQGU2WKHU-DJDW?PHWUHVVVVDQG
V7RDNDDQG\\\DQG\%KXM^JDSUD\WD
DE&K6LQGUD
LQGUDYYDMU WDX MMJDX J7UL!XEKPHWUH,QGUDYDMUJJOJJOOJOJJ
XSHQGUDYDMUMWDXMJDXJ7UL!XEKPHWUH8SHQGUDYDMUOJOJJOOJOJJ 
G\
G\DQWY XSDMWD\D_7UL!XEKPHWUH8SDMWLFRQVLVWVRIPL[HG3GDVRI,QGUDYDMULDQG
8SHQGUDYDMUX([DPSOHIRU8SDMWLLXXL 
%K*YV@VLM?U>QL\DWKYLK\DQDYQLJBK>WLQDUR
SDU>L 
WDWKDU?U>LYLK\DM?U>Q\DQ\QLVD@\WLQDYQLGHK ?

FG&K6MDJDW
MDJDW??YD@DVWK MMWDX MMUDXWRDND
WRDND@
@ VD_7KH-DJDW?PHWUH7RDND
OOJOOJOOJOOJ VVVV  VDX VDXEKXMD^JDSUD\WD@ \D_7KH-DJDW?PHWUH
%KXMD^JDSUD\WDOJJOJJOJJOJJ \\\\  \DX \D
\DXX([DPSOH'DDORN?RIAU?
AD^NDUFU\DQDEKPLUQDWR\D@QDWHMRQDY\XUQD NKD@QHQGUL\D@YQDWH!@
VDPKD_DQDLNWLNDWYWVX!XSW\HND VLGGKDVWDGHNR
YDL!D_LYD_NHYDOR
KDP 

nL*Y@JDOJDLF1P\@DQGD
@NU@]DNU@GXJRPDKLVQ@
MJW@OOJDYUGDYVXID
ZY]DNLU@NLUPH]UP



23

VUDJYL>?JODJFLQPD\?M`QDG
U?NDU?@NDU?GXUJDPKD@VLQ?
MDJDW?ODODJYDUDGYDVXGK
EKDYD@NDULU?NDULPHDUD>DP

7KH-DJDW?PHWUH6UDJYL>?UUUDQGU([DPSOH
VUDJYL>?JODJFLQPD\?
M`QDGU?NDU?@NDU?GXUJDPKD@VLQ?
([DPSOHIRU7RDND
MDJDW?ODODJ
YDUDGYDVXGKEKDYD@NDULU?NDULPHDUD>DP

DE
VUDJYL>?KD@VLQ?
LVDQH[DPSOHIRUWKH-DJDW ?PHWUH6UDJYL>?&K6VUDJYL>
VUDJYL>??
UD_JOJJOJJOJJOJ1DPHVRI0RWKHU'LYLQHIURPAU ?/DOLWPELN6DKDVUDQPD
6WRWUD FLQPD\
U??NDU
NDU??@NDU
@NDU??GXUJ
KD@VLQ??
QPD\??M`QDGU
UJDDPKD@VLQ

FG
MDJDW?ODODJDUD>DP
LVDQH[DPSOHIRU7RDNDP HWUHVHHFGQRWHVYDUDG
YDVXGKFRPSDUHZLWK7URDND$!DNDLQZKLFKHDFKYHUVHHQGVZLWK
EKDYD
D^NDUD GHLND PH DDUD>DP


YHG6\SLUDPDH'\P,LWYHGLYGDHLYGX
VY!Y?LGNLP7\X\7VYRPL6WW#YHW
YHGDV\DSDUL>PR
\DPLWLYHGDYLGRYLGX_
VDUYD@YDLGLNDPLW\XNWD@\DWVDUYDPDVWLWDGEKDYHW

7KHNQRZHUVRIWKH9HGDNQRZWKDWWKLVZRUOGLVWKHWUDQVIRUPDWLRQRI9HGD
%HFDXVHHYHU\WKLQJLV9HGLFHYHU\WKLQJVKRXOGEHZKDWLWLV
DE9N\DSDG?\DRI%KDUWBKDULDE
DEGGDV\D SDUL>PR
\D

\DP
P LW\ PQ\DYLGR YLGX_
FKDQGREK\DHYDSUDWKDPDPHWDGYLYD@Y\DYDUWDWD7KRVHZKRDUHYHUVHGLQWKH9HGDV
NQRZWKDWWKHXQLYHUVHLVWKHWUDQVIRUPDWLRQRIVSHHFK,WZDVRXWRIWKH9HGDVWKDWWKLV
XQLYHUVHZDVILUVWHYR OYHG

FG0DKDULVKL
V9HGLF6FLHQFH(YHU\WKLQJLV9HGLF VDUYD@ YDLGLN
YDLGLNDDPVDUYD@
YHGDPD\DPVDUYD@YHGWPDNDP(YHUWKLQJLVLQHYHU\WKLQJVDUYD@VDUYWPDNDP 

24