You are on page 1of 27






7KH7HQ0RVW&ULWLFDO
:HE$SSOLFDWLRQ6HFXULW\
9XOQHUDELOLWLHV




-DQXDU\













&RS\ULJKW‹7KH2SHQ:HE$SSOLFDWLRQ6HFXULW\3URMHFW 2:$63 $OO5LJKWV5HVHUYHG

3HUPLVVLRQLVJUDQWHGWRFRS\GLVWULEXWHDQGRUPRGLI\WKLVGRFXPHQWSURYLGHG
WKDWWKLVFRS\ULJKWQRWLFHDQGDWWULEXWLRQWR2:$63LVUHWDLQHG



2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  




&RPPHQWDU\



³7KLVµ7HQ0RVW:DQWLQJ¶/LVWDFXWHO\VFUDWFKHVDWWKHWLSRIDQHQRUPRXVLFHEHUJ7KHXQGHUO\LQJUHDOLW\LV
VKDPHIXOPRVWV\VWHPDQG:HEDSSOLFDWLRQVRIWZDUHLVZULWWHQREOLYLRXVWRVHFXULW\SULQFLSOHVVRIWZDUHHQJLQHHULQJ
RSHUDWLRQDOLPSOLFDWLRQVDQGLQGHHGFRPPRQVHQVH´

ƒ'U3HWHU*1HXPDQQ3ULQFLSDO6FLHQWLVW65,,QWHUQDWLRQDO&RPSXWHU6FLHQFH/DE
0RGHUDWRURIWKH$&05LVNV)RUXP$XWKRURI³&RPSXWHU5HODWHG5LVNV´

³7KLVOLVWLVDQLPSRUWDQWGHYHORSPHQWIRUFRQVXPHUVDQGYHQGRUVDOLNH,WZLOOHGXFDWHYHQGRUVWRDYRLGWKHVDPH
PLVWDNHVWKDWKDYHEHHQUHSHDWHGFRXQWOHVVWLPHVLQRWKHUZHEDSSOLFDWLRQV%XWLWDOVRJLYHVFRQVXPHUVDZD\RI
DVNLQJYHQGRUVWRIROORZDPLQLPXPVHWRIH[SHFWDWLRQVIRUZHEDSSOLFDWLRQVHFXULW\DQGMXVWDVLPSRUWDQWO\WRLGHQWLI\
ZKLFKYHQGRUVDUHQRWOLYLQJXSWRWKRVHH[SHFWDWLRQV´

ƒ6WHYHQ0&KULVWH\3ULQFLSDO,QIRUPDWLRQ6HFXULW\(QJLQHHUDQG&9((GLWRU0LWUH

³7KHQHZ52,LVVHFXULW\&RPSDQLHVPXVWEHDEOHWRSURYLGHWUXVWHGZHEDSSOLFDWLRQVDQGZHEVHUYLFHVWRWKHLU
WUDGLQJSDUWQHUVZKRDUHUHTXLULQJERWKVHFXUHWHFKQRORJ\DQGWUDGLWLRQDOLQGLFLDRIILQDQFLDOVHFXULW\VXFKDV
LQVXUDQFH,WGRHVQ
WVWRSWKHUHWKRXJKEDGVHFXULW\SODFHVDFRPSDQLHV
GDWDDQGDSSOLFDWLRQVDWULVNDQGKHQFHLWV
YLDELOLW\DVDFRPPHUFLDOHQWLW\'LVDSSRLQWLQJ\RXUFXVWRPHUVLVRQHWKLQJWU\LQJWRFRPHEDFNIURPWKHORVVRU
FRUUXSWLRQRI\RXURZQV\VWHPVLVTXLWHDQRWKHU´

ƒ5REHUW$3DULVL-U6HQLRU93DQG&KLHI8QGHUZULWLQJ2IILFHU$,*H%XVLQHVV5LVN6ROXWLRQV

³7KH2:$637RS7HQVKLQHVDVSRWOLJKWGLUHFWO\RQRQHRIWKHPRVWVHULRXVDQGRIWHQRYHUORRNHGULVNVIDFLQJ
JRYHUQPHQWDQGFRPPHUFLDORUJDQL]DWLRQV$VWXQQLQJQXPEHURIRUJDQL]DWLRQVVSHQGELJEXFNVVHFXULQJWKH
QHWZRUNDQGVRPHKRZIRUJHWDERXWWKHDSSOLFDWLRQVWKDWKDYHDOOWKHNH\VWRWKHNLQJGRPDQGIXOODFFHVVWRDOORIRXU
VHQVLWLYHLQIRUPDWLRQ7KHVHIODZVDUHIDUWRRHDV\WRDYRLGDQGIDUWRRGDQJHURXVWRLJQRUH´

ƒ-HIIUH\5:LOOLDPV&(2$VSHFW6HFXULW\,QF

³)URPZHESDJHVWREDFNRIILFHQXPEHUFUXQFKLQJDOPRVWDOORUJDQL]DWLRQVDFTXLUHDSSOLFDWLRQVFRGHPDQ\SHRSOH
ZULWHLWDQGHYHU\ERG\XVHVLW%XWIODZVFRQWLQXHWREHIRXQGLQDSSOLFDWLRQVHYHQDIWHUQHDUO\ILIW\\HDUVRI
SURJUDPPLQJH[SHULHQFH:RUVHWKHVDPHNLQGVRIIODZVDSSHDURYHUDQGRYHUDJDLQ7KLVIDLOXUHWROHDUQIURPQRW
RQO\RXUPLVWDNHVEXWDOVRWKRVHRIRXUSDUHQWV¶JHQHUDWLRQFUHDWHVIDUWRRPDQ\YXOQHUDELOLWLHVIRUSRWHQWLDODWWDFN,WLV
QRZRQGHUWKDWDWWDFNVDJDLQVWDSSOLFDWLRQVDUHRQWKHULVH

,QFRPSLOLQJWKLVOLVWRIWKHWHQPRVWFULWLFDODSSOLFDWLRQVFRGHIODZVWKH2:$63KDVSHUIRUPHGDUHDOVHUYLFHWR
GHYHORSHUVDQGXVHUVDOLNHE\IRFXVLQJDWWHQWLRQRQFRPPRQZHDNQHVVHVDQGZKDWFDQEHGRQHDERXWWKHP1RZLW
LVXSWRVRIWZDUHGHYHORSPHQWRUJDQL]DWLRQVSURJUDPPHUVDQGXVHUVWRDSSO\WKHWKRXJKWIXOJXLGDQFHSUHVHQWHG
KHUH´

ƒ'U&KDUOHV33IOHHJHU&,6630DVWHU6HFXULW\$UFKLWHFW&DEOH :LUHOHVV
$XWKRURI³6HFXULW\LQ&RPSXWLQJ´

³7KH2SHQ:HE$SSOLFDWLRQ6HFXULW\3URMHFWSURYLGHVIUHHRSHQVRXUFHFRPPHUFLDOTXDOLW\GRFXPHQWDWLRQDQG
VRIWZDUHIRUDOOWKRVHZKRQHHGLW HYHQLIWKH\GLGQ
W\HWNQRZWKH\QHHGLW 2:$63PHPEHUVIURPDOORYHUWKHZRUOG
DQGHYHU\EDFNJURXQGLPDJLQDEOHDUHVKDULQJLQIRUPDWLRQDQGWHFKQRORJ\WRLPSURYHZHEDSSOLFDWLRQVHFXULW\IRU
HYHU\RQH7KH2:$637RS7HQ3URMHFWZDVIRUPHGWRFDSWXUHRXUFROOHFWLYHZLVGRPDQGSUHVHQWLWLQDZD\WKDW
ZRXOGEULQJWKHDWWHQWLRQZHEDSSOLFDWLRQVHFXULW\GHVHUYHV´

ƒ0DUN&XUSKH\2:$63)RXQGHUDQG&KDLU




 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  




³7KH2:$637RS/LVWLVDSRZHUIXOZDNHXSFDOOIRUFRUSRUDWHDQGJRYHUQPHQW,7GHSDUWPHQWVWKDWPD\KDYH
XQGHUHVWLPDWHGKRZYXOQHUDEOHWKHLUDVVHWVEX\VHOOWUDQVDFWLRQVDQGSULYDWHFXVWRPHUGDWDDUHWRDSSOLFDWLRQOHYHO
DWWDFNV7KLVOLVWLVDQLPSRUWDQWILUVWVWHSIRUHYDOXDWLQJDSSOLFDWLRQVHFXULW\ULVNVDQGH[SRVHVWKHIDFWWKDW
DSSOLFDWLRQOD\HUSURWHFWLRQLVUHTXLUHGWREORFNDWWDFNVWKDWIORZXQGHWHFWHGWKURXJKQHWZRUNOHYHOGHIHQVHV\VWHPV´

ƒ$EKLVKHN&KDXKDQ&KLHI7HFKQRORJ\2IILFHU6WUDWXP1HWZRUNV

³:HEGHYHORSHUVQHHGWRNQRZWKDWWKHGHJUHHWRZKLFKEXVLQHVVDSSOLFDWLRQVDQGFXVWRPHUGDWDDUHSURWHFWHGIURP
WKHKRVWLOH,QWHUQHWLVGLUHFWO\GHWHUPLQHGE\KRZVHFXUHO\WKH\
YHZULWWHQWKHLUFRGH7KH2:$637RS7HQOLVWLVD
JUHDWZD\WRXQGHUVWDQGKRZWRFRGHGHIHQVLYHO\DQGDYRLGWKHVHFXULW\SLWIDOOVWKDWSODJXH:HEDSSOLFDWLRQV´

ƒ&KULV:\VRSDO'LUHFWRURI5HVHDUFK 'HYHORSPHQW#VWDNH,QF

³7KHKHDOWKFDUHLQGXVWU\KDVDFULWLFDOQHHGWRSURYLGHVHFXUHZHEDSSOLFDWLRQVWKDWSURWHFWXVHUV
SULYDF\7KH
2:$637RS7HQZLOOKHOSKHDOWKFDUHRUJDQL]DWLRQVHYDOXDWHWKHVHFXULW\RIZHEDSSOLFDWLRQSURGXFWVDQGVROXWLRQV
$Q\KHDOWKFDUHRUJDQL]DWLRQVXVLQJDSSOLFDWLRQVWKDWFRQWDLQWKHVHIODZVPD\KDYHGLIILFXOW\FRPSO\LQJZLWKWKH
+,3$$UHJXODWLRQV´


ƒ/LVD*DOODJKHU6HQLRU93,QIRUPDWLRQDQG7HFKQRORJ\$FFUHGLWDWLRQV85$&

³1RPDWWHUKRZJRRG\RXRU\RXUVHFXULW\SURYLGHUDUHDWILUHZDOOVLQWUXVLRQGHWHFWLRQDQGRWKHUVHFXULW\
PDQDJHPHQWVXFKPHDVXUHVFDQQRWSURWHFW\RXIURPOHJLWLPDWHDSSOLFDWLRQVUXQQLQJRQ\RXUV\VWHPZLWKIODZHG
FRGH$VDIRUPHUODZHQIRUFHPHQWVSHFLDODJHQW,NQRZWKHYDOXHRIWRSWHQOLVWVDQGWKLVRQHKHOSV\RXWRFDWFK
WKHEDGRQHVEHIRUHWKHYLRODWLRQ±DJUHDWLGHDDQG,HQFRXUDJHZLGHGLVWULEXWLRQRIWKLVOLVW´

ƒ&KDUOHV1HDO930DQDJHG6HFXULW\6HUYLFHV&DEOH :LUHOHVV

³7KH2:$63:HE$SSOLFDWLRQ6HFXULW\7RSXQGHUOLQHVZKDW$OSKDZHVWKDYHEHHQVD\LQJWRWKH$XVWUDOLDQ
PDUNHWIRUPDQ\\HDUV6HFXULW\LVQRWMXVWDERXWLQIUDVWUXFWXUHDQGILOWHULQJWHFKQRORJLHVEXWDERXWFRGLQJRXW
DSSOLFDWLRQEXJV7KH2:$637RS7HQKLJKOLJKWVWKHPDMRULVVXHVIDFLQJRUJDQL]DWLRQVWRGD\DQGDOVRYHU\
FRQFLVHO\GHWDLOVKRZWRDYRLGWKHVHFRPPRQSLWIDOOV´

ƒ7LP6PLWK1DWLRQDO6HFXULW\0DQDJHU$OSKDZHVW3W\/WG$XVWUDOLD

³$SSOLFDWLRQVHFXULW\FRQVLGHUDWLRQVDUHRIWHQWUHDWHGDVWKHGRPDLQRIVSHFLDOLVWVWREHDSSOLHGDIWHUFRGLQJLVGRQH
DQGDOORWKHUEXVLQHVVUHTXLUHPHQWVDUHVDWLVILHG$W2UDFOHZHKDYHIRXQGWKDWWKHWDVNRIVHFXULQJDSSOLFDWLRQVLV
PRVWOLNHO\WRVXFFHHGLIVHFXULW\LVEXLOWLQIURPWKHVWDUW'HYHORSHUVPXVWKDYHDEDVLFXQGHUVWDQGLQJRIVHFXULW\
YXOQHUDELOLWLHVDQGKRZWRDYRLGWKHPDQGUHOHDVHPDQDJHUVPXVWH[SOLFLWO\FKHFNWKDWVHFXULW\UHTXLUHPHQWVKDYH
EHHQVDWLVILHGEHIRUHSURGXFWFDQVKLS7KH2:$637RS7HQ/LVWLVDQH[FHOOHQWVWDUWLQJSRLQWIRUFRPSDQLHVWREXLOG
VHFXULW\DZDUHQHVVDPRQJWKHLUGHYHORSHUVDQGWRSUHSDUHVHFXULW\FULWHULDIRUDSSOLFDWLRQGHSOR\PHQW´

ƒ-RKQ+HLPDQQ'LUHFWRURI6HFXULW\DW2UDFOH&RUS

³7KH2:$63KDVGRQHDJUHDWMREWRJLYH,7SURIHVVLRQDOVDFKHFNOLVWRIWKHPRVWFULWLFDOYXOQHUDELOLWLHV,WLVQRZWLPH
IRURUJDQL]DWLRQVLQDOOLQGXVWULHVWRVWDUWWDNLQJDSSOLFDWLRQVHFXULW\VHULRXVO\:HEDSSOLFDWLRQVDUHFKDQJLQJWKHZD\
EXVLQHVVLVFRQGXFWHGRQDJOREDOVFDOH%XWLIWKHFXUUHQWVHFXULW\SUREOHPVLQKHUHQWLQWKHVHDSSOLFDWLRQVDUHQRW
DGGUHVVHGDQ\EHQHILWVZHJDLQIURPWKHPZLOOEHVRXQGO\QHJDWHGE\DWWDFNV´

ƒ<XYDO%HQ,W]KDN&KLHI7HFKQRORJ\2IILFHU)RXQGHU.D9D'R,QF

³0DQ\SHRSOHKDYHVHHQWRSWHQOLVWVGHWDLOLQJWKHELJJHVWQHWZRUNVHFXULW\ULVNV7KRVHOLVWVRQO\SRLQWRXWIODZVLQ
WKLUGSDUW\VRIWZDUHWKDW\RXPD\RUPD\QRWEHUXQQLQJRQ\RXUQHWZRUN$SSO\LQJWKHLQIRUPDWLRQLQWKLVOLVWZLOONHHS
WKHVRIWZDUH\RXGHYHORSRIIWKRVHRWKHUOLVWV´

ƒ-RKQ9LHJD&KLHI6FLHQWLVW6HFXUH6RIWZDUH,QFFRDXWKRURI
%XLOGLQJ6HFXUH6RIWZDUH





 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  




7DEOHRI&RQWHQWV


,QWURGXFWLRQ 
%DFNJURXQG 
7KH7RS7HQ/LVW 
$ 8QYDOLGDWHG3DUDPHWHUV 
$ %URNHQ$FFHVV&RQWURO 
$ %URNHQ$FFRXQWDQG6HVVLRQ0DQDJHPHQW
$ &URVV6LWH6FULSWLQJ ;66 )ODZV
$ %XIIHU2YHUIORZV 
$ &RPPDQG,QMHFWLRQ)ODZV 
$ (UURU+DQGOLQJ3UREOHPV 
$ ,QVHFXUH8VHRI&U\SWRJUDSK\
$ 5HPRWH$GPLQLVWUDWLRQ)ODZV
$:HEDQG$SSOLFDWLRQ6HUYHU0LVFRQILJXUDWLRQ 
&RQFOXVLRQV 




 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  




,QWURGXFWLRQ

7KH2SHQ:HE$SSOLFDWLRQ6HFXULW\3URMHFW 2:$63 LVGHGLFDWHGWRKHOSLQJRUJDQL]DWLRQVXQGHUVWDQGDQGLPSURYHWKH


VHFXULW\RIWKHLUZHEDSSOLFDWLRQVDQGZHEVHUYLFHV7KLVOLVWZDVFUHDWHGWRIRFXVJRYHUQPHQWDQGLQGXVWU\RQWKHPRVW
VHULRXVRIWKHVHYXOQHUDELOLWLHV:HEDSSOLFDWLRQVHFXULW\YXOQHUDELOLWLHVDUHKLJKO\H[SORLWDEOHDQGWKHFRQVHTXHQFHRIDQ
DWWDFNFDQEHGHYDVWDWLQJ7KHVHYXOQHUDELOLWLHVUHSUHVHQWDQHTXLYDOHQWPDJQLWXGHRIULVNDVQHWZRUNVHFXULW\SUREOHPVDQG
VKRXOGEHJLYHQWKHVDPHGHJUHHRIDWWHQWLRQ

8VLQJWKLVOLVWRUJDQL]DWLRQVFDQVHQGDPHVVDJHWRZHEVLWHGHYHORSHUVWKDWZHZDQW\RXWRPDNHVXUHWKDW\RXZRQ
W
PDNHWKHVHPLVWDNHV7KHVHFXULW\LVVXHVUDLVHGKHUHDUHQRWQHZ,QIDFWVRPHKDYHEHHQZHOOXQGHUVWRRGIRUGHFDGHV
<HWIRUVRPHUHDVRQPDMRUVRIWZDUHGHYHORSPHQWSURMHFWVDUHVWLOOPDNLQJWKHVHPLVWDNHVDQGMHRSDUGL]LQJQRWRQO\WKHLU
FXVWRPHUV¶VHFXULW\EXWDOVRWKHVHFXULW\RIWKHHQWLUH,QWHUQHW

:HKDYHFKRVHQWRSUHVHQWWKLVOLVWLQDIRUPDWVLPLODUWRWKHKLJKO\VXFFHVVIXO6$16)%,7RS7ZHQW\/LVWLQRUGHUWRIDFLOLWDWH
LWVXVHDQGXQGHUVWDQGLQJ7KH6$16OLVWLVIRFXVHGRQIODZVLQSDUWLFXODUZLGHO\XVHGQHWZRUNDQGLQIUDVWUXFWXUHSURGXFWV
%HFDXVHHDFKZHEVLWHLVXQLTXHWKH2:$637RS7HQLVRUJDQL]HGDURXQGSDUWLFXODUW\SHVRUFDWHJRULHVRIYXOQHUDELOLWLHV
WKDWIUHTXHQWO\RFFXULQZHEDSSOLFDWLRQV

:KHQDQRUJDQL]DWLRQSXWVXSDZHEDSSOLFDWLRQWKH\LQYLWHWKHZRUOGWRVHQGWKHP+773UHTXHVWV$WWDFNVEXULHGLQWKHVH
UHTXHVWVVDLOSDVWILUHZDOOVILOWHUVSODWIRUPKDUGHQLQJDQGLQWUXVLRQGHWHFWLRQV\VWHPVZLWKRXWQRWLFHEHFDXVHWKH\DUHLQVLGH
OHJDO+773UHTXHVWV(YHQ³VHFXUH´ZHEVLWHVWKDWXVH66/MXVWDFFHSWWKHUHTXHVWVWKDWDUULYHWKURXJKWKHHQFU\SWHGWXQQHO
ZLWKRXWVFUXWLQ\7KLVPHDQVWKDW\RXUZHEDSSOLFDWLRQFRGHLVSDUWRI\RXUVHFXULW\SHULPHWHU$VWKHQXPEHUVL]HDQG
FRPSOH[LW\RI\RXUZHEDSSOLFDWLRQVLQFUHDVHVVRGRHV\RXUSHULPHWHUH[SRVXUH

7KLVOLVWUHSUHVHQWVWKHFRPELQHGZLVGRPRIGR]HQVRIOHDGLQJDSSOLFDWLRQVHFXULW\H[SHUWV7KLVGRFXPHQWLVGHVLJQHGWR
LQWURGXFHWKHPRVWVHULRXVZHEDSSOLFDWLRQYXOQHUDELOLWLHV7KHUHDUHPDQ\ERRNVDQGJXLGHOLQHVWKDWGHVFULEHWKHVH
YXOQHUDELOLWLHVLQPRUHGHWDLODQGSURYLGHGHWDLOHGJXLGDQFHRQKRZWRHOLPLQDWHWKHP2QHVXFKJXLGHOLQHLVWKH2:$63
*XLGHDYDLODEOHDWKWWSZZZRZDVSRUJ

7KH2:$637RS7HQLVDOLVWRIYXOQHUDELOLWLHVWKDWUHTXLUHLPPHGLDWHUHPHGLDWLRQ$OVRLQWKHORQJHUWHUPWKLVWRSWHQ
OLVWLVLQWHQGHGWREHXVHGE\GHYHORSPHQWWHDPVDQGWKHLUPDQDJHUVGXULQJSURMHFWSODQQLQJDQGH[HFXWLRQ6HFXULW\
SURIHVVLRQDOVVKRXOGLQFOXGHWKHVHLWHPVLQWKHLUUHYLHZVDQGSURYLGHJXLGDQFHRQKRZWRUHPHG\WKHVHSUREOHPV8OWLPDWHO\
ZHEDSSOLFDWLRQGHYHORSHUVPXVWDFKLHYHDFXOWXUHVKLIWWKDWLQWHJUDWHVVHFXULW\LQWRHYHU\DVSHFWRIWKHLUSURMHFWV<RX
ZRXOGQ
WWKLQNRIGHSOR\LQJDQHZ,QWHUQHWFRQQHFWHGQHWZRUNZLWKRXWWKLQNLQJRIQHWZRUNVHFXULW\DWWKHGHVLJQVWDJHRU
SHUIRUPLQJQHWZRUNVHFXULW\WHVWLQJ3URMHFWPDQDJHUVVKRXOGLQFOXGHWLPHDQGEXGJHWIRUDSSOLFDWLRQVHFXULW\DFWLYLWLHV
LQFOXGLQJGHYHORSHUWUDLQLQJDSSOLFDWLRQVHFXULW\SROLF\GHYHORSPHQWVHFXULW\PHFKDQLVPGHVLJQDQGGHYHORSPHQW
SHQHWUDWLRQWHVWLQJDQGVHFXULW\FRGHUHYLHZ

7KH2:$637RS7HQLVDOLYLQJGRFXPHQW,WLQFOXGHVLQVWUXFWLRQVDQGSRLQWHUVWRDGGLWLRQDOLQIRUPDWLRQXVHIXOIRUFRUUHFWLQJ
WKHVHW\SHVRIVHFXULW\IODZV:HZLOOXSGDWHWKHOLVWDQGWKHLQVWUXFWLRQVDVPRUHFULWLFDOWKUHDWVDQGPRUHFXUUHQWRU
FRQYHQLHQWPHWKRGVDUHLGHQWLILHGDQGZHZHOFRPH\RXULQSXWDORQJWKHZD\7KLVLVDFRPPXQLW\FRQVHQVXVGRFXPHQW±
\RXUH[SHULHQFHLQILJKWLQJDWWDFNHUVDQGLQHOLPLQDWLQJWKHVHYXOQHUDELOLWLHVFDQKHOSRWKHUVZKRFRPHDIWHU\RX3OHDVHVHQG
VXJJHVWLRQVYLDHPDLOWRWRSWHQ#RZDVSRUJZLWKWKHVXEMHFW2:$637RS7HQ&RPPHQWV´

 
2:$63JUDWHIXOO\DFNQRZOHGJHVWKHVSHFLDOFRQWULEXWLRQIURP$VSHFW6HFXULW\
IRUWKHLUUROHLQWKHUHVHDUFKDQGSUHSDUDWLRQRIWKLVGRFXPHQW




 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  




%DFNJURXQG

7KHFKDOOHQJHRILGHQWLI\LQJWKH³WRS´ZHEDSSOLFDWLRQYXOQHUDELOLWLHVLVDYLUWXDOO\LPSRVVLEOHWDVN7KHUHLVQRWHYHQ
ZLGHVSUHDGDJUHHPHQWRQH[DFWO\ZKDWLVLQFOXGHGLQWKHWHUP³ZHEDSSOLFDWLRQVHFXULW\´6RPHKDYHDUJXHGWKDWZHVKRXOG
IRFXVRQO\RQVHFXULW\LVVXHVWKDWDIIHFWGHYHORSHUVZULWLQJFXVWRPZHEDSSOLFDWLRQFRGH2WKHUVKDYHDUJXHGIRUDPRUH
H[SDQVLYHGHILQLWLRQWKDWFRYHUVWKHHQWLUHDSSOLFDWLRQOD\HULQFOXGLQJOLEUDULHVVHUYHUFRQILJXUDWLRQDQGDSSOLFDWLRQOD\HU
SURWRFROV,QWKHKRSHVRIDGGUHVVLQJWKHPRVWVHULRXVULVNVIDFLQJRUJDQL]DWLRQVZHKDYHGHFLGHGWRJLYHDUHODWLYHO\EURDG
LQWHUSUHWDWLRQWRZHEDSSOLFDWLRQVHFXULW\ZKLOHVWLOONHHSLQJFOHDURIQHWZRUNDQGLQIUDVWUXFWXUHVHFXULW\LVVXHV

$QRWKHUFKDOOHQJHWRWKLVHIIRUWLVWKDWHDFKVSHFLILFYXOQHUDELOLW\LVXQLTXHWRDSDUWLFXODURUJDQL]DWLRQ¶VZHEVLWH7KHUHZRXOG
EHOLWWOHSRLQWLQFDOOLQJRXWVSHFLILFYXOQHUDELOLWLHVLQWKHZHEDSSOLFDWLRQVRILQGLYLGXDORUJDQL]DWLRQVHVSHFLDOO\VLQFHWKH\DUH
KRSHIXOO\IL[HGVRRQDIWHUDODUJHDXGLHQFHNQRZVRIWKHLUH[LVWHQFH7KHUHIRUHZHKDYHFKRVHQWRIRFXVRQWKHWRSFODVVHV
W\SHVRUFDWHJRULHVRIZHEDSSOLFDWLRQYXOQHUDELOLWLHV

:HGHFLGHGWRFODVVLI\DZLGHUDQJHRIZHEDSSOLFDWLRQSUREOHPVLQWRPHDQLQJIXOFDWHJRULHV:HVWXGLHGDYDULHW\RI
YXOQHUDELOLW\FODVVLILFDWLRQVFKHPHVDQGFDPHXSZLWKDVHWRIFDWHJRULHV)DFWRUVWKDWFKDUDFWHUL]HDJRRGYXOQHUDELOLW\
FDWHJRU\LQFOXGHZKHWKHUWKHIODZVDUHFORVHO\UHODWHGFDQEHDGGUHVVHGZLWKVLPLODUFRXQWHUPHDVXUHVDQGIUHTXHQWO\RFFXU
LQW\SLFDOZHEDSSOLFDWLRQDUFKLWHFWXUHV

7RFKRRVHWKHWRSWHQIURPDODUJHOLVWRIFDQGLGDWHVKDVLWVRZQVHWRIGLIILFXOWLHV7KHUHDUHVLPSO\QRUHOLDEOHVRXUFHVRI
VWDWLVWLFVDERXWZHEDSSOLFDWLRQVHFXULW\SUREOHPV,QWKHIXWXUHZHZRXOGOLNHWRJDWKHUVWDWLVWLFVDERXWWKHIUHTXHQF\RI
FHUWDLQIODZVLQZHEDSSOLFDWLRQFRGHDQGXVHWKRVHPHWULFVWRKHOSSULRULWL]HWKHWRSWHQ+RZHYHUIRUDQXPEHURIUHDVRQV
WKLVVRUWRIPHDVXUHPHQWLVQRWOLNHO\WRRFFXULQWKHQHDUIXWXUH

:HUHFRJQL]HWKDWWKHUHLVQR³ULJKW´DQVZHUIRUZKLFKYXOQHUDELOLW\FDWHJRULHVVKRXOGEHLQWKHWRSWHQ(DFKRUJDQL]DWLRQZLOO
KDYHWRWKLQNDERXWWKHULVNWRWKHLURUJDQL]DWLRQEDVHGRQWKHOLNHOLKRRGRIKDYLQJRQHRIWKHVHIODZVDQGWKHVSHFLILF
FRQVHTXHQFHVWRWKHLUHQWHUSULVH,QWKHPHDQWLPHZHSXWWKLVOLVWIRUZDUGDVDVHWRISUREOHPVWKDWUHSUHVHQWDVLJQLILFDQW
DPRXQWRIULVNWRDEURDGDUUD\RIRUJDQL]DWLRQV7KHWRSWHQWKHPVHOYHVDUHQRWLQDQ\SDUWLFXODURUGHUDVLWZRXOGEHDOPRVW
LPSRVVLEOHWRGHWHUPLQHZKLFKRIWKHPUHSUHVHQWVWKHPRVWDJJUHJDWHULVN

7KH2:$637RS7HQSURMHFWLVDQRQJRLQJHIIRUWWRPDNHLQIRUPDWLRQDERXWNH\ZHEDSSOLFDWLRQVHFXULW\IODZVDYDLODEOHWRD
ZLGHDXGLHQFH:HH[SHFWWRXSGDWHWKLVGRFXPHQWLQWKHVL[PRQWKWLPHIUDPHEDVHGRQGLVFXVVLRQRQWKH2:$63PDLOLQJ
OLVWVDQGIHHGEDFNWRWRSWHQ#RZDVSRUJ



 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  




7KH7RS7HQ/LVW

7KHIROORZLQJLVDVKRUWVXPPDU\RIWKHPRVWVLJQLILFDQWZHEDSSOLFDWLRQVHFXULW\YXOQHUDELOLWLHV(DFKRIWKHVHLVGHVFULEHGLQ
PRUHGHWDLOLQWKHIROORZLQJVHFWLRQV

7RS9XOQHUDELOLWLHVLQ:HE$SSOLFDWLRQV

$ 8QYDOLGDWHG3DUDPHWHUV ,QIRUPDWLRQIURPZHEUHTXHVWVLVQRWYDOLGDWHGEHIRUHEHLQJXVHGE\DZHE


DSSOLFDWLRQ$WWDFNHUVFDQXVHWKHVHIODZVWRDWWDFNEDFNHQGFRPSRQHQWV
WKURXJKDZHEDSSOLFDWLRQ

$ %URNHQ$FFHVV&RQWURO 5HVWULFWLRQVRQZKDWDXWKHQWLFDWHGXVHUVDUHDOORZHGWRGRDUHQRWSURSHUO\


HQIRUFHG$WWDFNHUVFDQH[SORLWWKHVHIODZVWRDFFHVVRWKHUXVHUV¶DFFRXQWVYLHZ
VHQVLWLYHILOHVRUXVHXQDXWKRUL]HGIXQFWLRQV

$ %URNHQ$FFRXQWDQG6HVVLRQ $FFRXQWFUHGHQWLDOVDQGVHVVLRQWRNHQVDUHQRWSURSHUO\SURWHFWHG$WWDFNHUV


0DQDJHPHQW WKDWFDQFRPSURPLVHSDVVZRUGVNH\VVHVVLRQFRRNLHVRURWKHUWRNHQVFDQ
GHIHDWDXWKHQWLFDWLRQUHVWULFWLRQVDQGDVVXPHRWKHUXVHUV¶LGHQWLWLHV

$ &URVV6LWH6FULSWLQJ ;66  7KHZHEDSSOLFDWLRQFDQEHXVHGDVDPHFKDQLVPWRWUDQVSRUWDQDWWDFNWRDQ


)ODZV HQGXVHU¶VEURZVHU$VXFFHVVIXODWWDFNFDQGLVFORVHWKHHQGXVHU¶VVHVVLRQ
WRNHQDWWDFNWKHORFDOPDFKLQHRUVSRRIFRQWHQWWRIRROWKHXVHU

$ %XIIHU2YHUIORZV :HEDSSOLFDWLRQFRPSRQHQWVLQVRPHODQJXDJHVWKDWGRQRWSURSHUO\YDOLGDWH


LQSXWFDQEHFUDVKHGDQGLQVRPHFDVHVXVHGWRWDNHFRQWURORIDSURFHVV
7KHVHFRPSRQHQWVFDQLQFOXGH&*,OLEUDULHVGULYHUVDQGZHEDSSOLFDWLRQ
VHUYHUFRPSRQHQWV

$ &RPPDQG,QMHFWLRQ)ODZV :HEDSSOLFDWLRQVSDVVSDUDPHWHUVZKHQWKH\DFFHVVH[WHUQDOV\VWHPVRUWKH


ORFDORSHUDWLQJV\VWHP,IDQDWWDFNHUFDQHPEHGPDOLFLRXVFRPPDQGVLQWKHVH
SDUDPHWHUVWKHH[WHUQDOV\VWHPPD\H[HFXWHWKRVHFRPPDQGVRQEHKDOIRIWKH
ZHEDSSOLFDWLRQ

$ (UURU+DQGOLQJ3UREOHPV (UURUFRQGLWLRQVWKDWRFFXUGXULQJQRUPDORSHUDWLRQDUHQRWKDQGOHGSURSHUO\,I


DQDWWDFNHUFDQFDXVHHUURUVWRRFFXUWKDWWKHZHEDSSOLFDWLRQGRHVQRWKDQGOH
WKH\FDQJDLQGHWDLOHGV\VWHPLQIRUPDWLRQGHQ\VHUYLFHFDXVHVHFXULW\
PHFKDQLVPVWRIDLORUFUDVKWKHVHUYHU

$ ,QVHFXUH8VHRI :HEDSSOLFDWLRQVIUHTXHQWO\XVHFU\SWRJUDSKLFIXQFWLRQVWRSURWHFWLQIRUPDWLRQ


&U\SWRJUDSK\ DQGFUHGHQWLDOV7KHVHIXQFWLRQVDQGWKHFRGHWRLQWHJUDWHWKHPKDYHSURYHQ
GLIILFXOWWRFRGHSURSHUO\IUHTXHQWO\UHVXOWLQJLQZHDNSURWHFWLRQ

$ 5HPRWH$GPLQLVWUDWLRQ 0DQ\ZHEDSSOLFDWLRQVDOORZDGPLQLVWUDWRUVWRDFFHVVWKHVLWHXVLQJDZHE


)ODZV LQWHUIDFH,IWKHVHDGPLQLVWUDWLYHIXQFWLRQVDUHQRWYHU\FDUHIXOO\SURWHFWHGDQ
DWWDFNHUFDQJDLQIXOODFFHVVWRDOODVSHFWVRIDVLWH

$ :HEDQG$SSOLFDWLRQ6HUYHU +DYLQJDVWURQJVHUYHUFRQILJXUDWLRQVWDQGDUGLVFULWLFDOWRDVHFXUHZHE


0LVFRQILJXUDWLRQ DSSOLFDWLRQ7KHVHVHUYHUVKDYHPDQ\FRQILJXUDWLRQRSWLRQVWKDWDIIHFWVHFXULW\
DQGDUHQRWVHFXUHRXWRIWKHER[



 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  




$ 8QYDOLGDWHG3DUDPHWHUV

$ 'HVFULSWLRQ
:HEDSSOLFDWLRQVXVHLQIRUPDWLRQIURP+773UHTXHVWVWRGHWHUPLQHKRZWRUHVSRQG$WWDFNHUVFDQWDPSHUZLWKDQ\SDUWRI
DQ+773UHTXHVWLQFOXGLQJWKHXUOTXHU\VWULQJKHDGHUVFRRNLHVIRUPILHOGVDQGKLGGHQILHOGVWRWU\WRE\SDVVWKHVLWH¶V
VHFXULW\PHFKDQLVPV&RPPRQQDPHVIRUFRPPRQSDUDPHWHUWDPSHULQJDWWDFNVLQFOXGHIRUFHGEURZVLQJFRPPDQG
LQVHUWLRQ64/LQMHFWLRQFRRNLHSRLVRQLQJDQGKLGGHQILHOGPDQLSXODWLRQ(DFKRIWKHVHDWWDFNVLVGHVFULEHGLQPRUHGHWDLO
ODWHULQWKLVSDSHU8QOHVVWKHZHEDSSOLFDWLRQKDVDVWURQJFHQWUDOL]HGPHFKDQLVPIRUYDOLGDWLQJDOOLQIRUPDWLRQIURP+773
UHTXHVWVSDUDPHWHUYDOLGDWLRQIODZVDUHYHU\OLNHO\WRH[LVW

0RVWZHEHQYLURQPHQWVVXSSRUWDQXPEHURIGLIIHUHQWZD\VRIHQFRGLQJLQIRUPDWLRQ7KHVHHQFRGLQJIRUPDWVDUHQRWOLNH
HQFU\SWLRQVLQFHWKH\DUHWULYLDOWRGHFRGH6WLOOGHYHORSHUVRIWHQIRUJHWWRGHFRGHDOOSDUDPHWHUVWRWKHLUVLPSOHVWIRUPEHIRUH
XVLQJWKHP3DUDPHWHUVPXVWEHFRQYHUWHGWRWKHVLPSOHVWIRUPEHIRUHWKH\DUHYDOLGDWHGRWKHUZLVHPDOLFLRXVLQSXWFDQEH
PDVNHGDQGLWFDQVOLSSDVWVXFKFKHFNV7KLVSURFHVVLVFDOOHG³FDQRQLFDOL]DWLRQ´6LQFHDOPRVWDOO+773LQSXWFDQEH
UHSUHVHQWHGLQPXOWLSOHIRUPDWVWKLVWHFKQLTXHFDQEHXVHGWRREIXVFDWHDQ\DWWDFNWDUJHWLQJWKHYXOQHUDELOLWLHVGHVFULEHGLQ
WKLVGRFXPHQW

$VXUSULVLQJQXPEHURIZHEDSSOLFDWLRQVXVHRQO\FOLHQWVLGHPHFKDQLVPVWRYDOLGDWHLQSXW&OLHQWVLGHYDOLGDWLRQPHFKDQLVPV
DUHHDVLO\E\SDVVHGOHDYLQJWKHZHEDSSOLFDWLRQZLWKRXWDQ\SURWHFWLRQDJDLQVWPDOLFLRXVSDUDPHWHUV$WWDFNHUVFDQ
JHQHUDWHWKHLURZQ+773UHTXHVWVXVLQJWRROVDVVLPSOHDVWHOQHW7KH\GRQRWKDYHWRSD\DWWHQWLRQWRDQ\WKLQJWKDWWKH
GHYHORSHULQWHQGHGWRKDSSHQRQWKHFOLHQWVLGH1RWHWKDWFOLHQWVLGHYDOLGDWLRQLVDILQHLGHDIRUSHUIRUPDQFHDQGXVDELOLW\
EXWLWKDVQRVHFXULW\EHQHILWZKDWVRHYHU6HUYHUVLGHFKHFNVDUHUHTXLUHGWRGHIHQGDJDLQVWSDUDPHWHUPDQLSXODWLRQDWWDFNV
2QFHWKHVHDUHLQSODFHFOLHQWVLGHFKHFNLQJFDQDOVREHLQFOXGHGWRHQKDQFHWKHXVHUH[SHULHQFHIRUOHJLWLPDWHXVHUVDQGRU
UHGXFHWKHDPRXQWRILQYDOLGWUDIILFWRWKHVHUYHU

7KHVHDWWDFNVDUHEHFRPLQJLQFUHDVLQJO\OLNHO\DVWKHQXPEHURIWRROVWKDWVXSSRUWSDUDPHWHU³IX]]LQJ´FRUUXSWLRQDQGEUXWH
IRUFLQJJURZV7KHLPSDFWRIXVLQJXQYDOLGDWHGSDUDPHWHUVVKRXOGQRWEHXQGHUHVWLPDWHG$KXJHQXPEHURIDWWDFNVZRXOG
EHFRPHGLIILFXOWRULPSRVVLEOHLIGHYHORSHUVZRXOGVLPSO\YDOLGDWHLQIRUPDWLRQEHIRUHXVLQJLW

$ (QYLURQPHQWV$IIHFWHG
$OOZHEVHUYHUVDSSOLFDWLRQVHUYHUVDQGZHEDSSOLFDWLRQHQYLURQPHQWVDUHVXVFHSWLEOHWRSDUDPHWHUWDPSHULQJ

$ ([DPSOHVDQG5HIHUHQFHV
„ 2:$63GLVFXVVLRQRQ3DUDPHWHU0DQLSXODWLRQKWWSZZZRZDVSRUJDVDFSDUDPHWHUBPDQLSXODWLRQ $GGLWLRQDO
OLQNVWR&RRNLH)RUP+773+HDGHUDQG85/PDQLSXODWLRQGLVFXVVLRQVFDQEHIRXQGRQWKLVSDJH 
„ 2:$63GLVFXVVLRQRQ&DQRQLFDOL]DWLRQLVVXHVKWWSZZZRZDVSRUJDVDFFDQRQLFDOL]DWLRQ $GGLWLRQDOOLQNVWR
8QLFRGHDQG85/HQFRGLQJFDQEHIRXQGRQWKLVSDJH 
„ 2:$63*XLGHWR%XLOGLQJ6HFXUH:HE$SSOLFDWLRQVDQG:HE6HUYLFHV&KDSWHU'DWD9DOLGDWLRQ
KWWSZZZRZDVSRUJJXLGH

$ +RZWR'HWHUPLQH,I<RX$UH9XOQHUDEOH
$Q\SDUWRIDQ+773UHTXHVWWKDWLVXVHGE\DZHEDSSOLFDWLRQZLWKRXWEHLQJFDUHIXOO\YDOLGDWHGLVNQRZQDVD³WDLQWHG´
SDUDPHWHU7KHVLPSOHVWZD\WRILQGWDLQWHGSDUDPHWHUXVHLVWRKDYHDGHWDLOHGFRGHUHYLHZVHDUFKLQJIRUDOOWKHFDOOVZKHUH
LQIRUPDWLRQLVH[WUDFWHGIURPDQ+773UHTXHVW)RUH[DPSOHLQD-((DSSOLFDWLRQWKHVHDUHWKHPHWKRGVLQWKH
+WWS6HUYOHW5HTXHVWFODVV7KHQ\RXFDQIROORZWKHFRGHWRVHHZKHUHWKDWYDULDEOHJHWVXVHG,IWKHYDULDEOHLVQRWFKHFNHG
EHIRUHLWLVXVHGWKHUHLVYHU\OLNHO\DSUREOHP,Q3HUO\RXVKRXOGFRQVLGHUXVLQJWKH³WDLQW´ W RSWLRQ

,WLVDOVRSRVVLEOHWRILQGWDLQWHGSDUDPHWHUXVHE\XVLQJWRROVOLNH$FKLOOHVDQG:HE6FDUDE%\VXEPLWWLQJXQH[SHFWHGYDOXHV
LQ+773UHTXHVWVDQGYLHZLQJWKHZHEDSSOLFDWLRQ¶VUHVSRQVHV\RXFDQLGHQWLI\SODFHVZKHUHWDLQWHGSDUDPHWHUVDUHXVHG


 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  



$ +RZWR3URWHFW<RXUVHOI
7KHEHVWZD\WRSUHYHQWSDUDPHWHUWDPSHULQJLVWRHQVXUHWKDWDOOSDUDPHWHUVDUHYDOLGDWHGEHIRUHWKH\DUHXVHG$
FHQWUDOL]HGFRPSRQHQWRUOLEUDU\LVOLNHO\WREHWKHPRVWHIIHFWLYHDVWKHFRGHSHUIRUPLQJWKHFKHFNLQJVKRXOGDOOEHLQRQH
SODFH(DFKSDUDPHWHUVKRXOGEHFKHFNHGDJDLQVWDVWULFWIRUPDWWKDWVSHFLILHVH[DFWO\ZKDWLQSXWZLOOEHDOORZHG³1HJDWLYH´
DSSURDFKHVWKDWLQYROYHILOWHULQJRXWFHUWDLQEDGLQSXWRUDSSURDFKHVWKDWUHO\RQVLJQDWXUHVDUHQRWOLNHO\WREHHIIHFWLYHDQG
PD\EHGLIILFXOWWRPDLQWDLQ

3DUDPHWHUVVKRXOGEHYDOLGDWHGDJDLQVWD³SRVLWLYH´VSHFLILFDWLRQWKDWGHILQHV

„ 'DWDW\SH VWULQJLQWHJHUUHDOHWF« 
„ $OORZHGFKDUDFWHUVHW
„ 0LQLPXPDQGPD[LPXPOHQJWK
„ :KHWKHUQXOOLVDOORZHG
„ :KHWKHUWKHSDUDPHWHULVUHTXLUHGRUQRW
„ :KHWKHUGXSOLFDWHVDUHDOORZHG
„ 1XPHULFUDQJH
„ 6SHFLILFOHJDOYDOXHV HQXPHUDWLRQ 
„ 6SHFLILFSDWWHUQV UHJXODUH[SUHVVLRQV 

$QHZFODVVRIVHFXULW\GHYLFHVNQRZQDVZHEDSSOLFDWLRQILUHZDOOVFDQSURYLGHVRPHSDUDPHWHUYDOLGDWLRQVHUYLFHV
+RZHYHULQRUGHUIRUWKHPWREHHIIHFWLYHWKHGHYLFHPXVWEHFRQILJXUHGZLWKDVWULFWGHILQLWLRQRIZKDWLVYDOLGIRUHDFK
SDUDPHWHUIRU\RXUVLWH7KLVLQFOXGHVSURSHUO\SURWHFWLQJDOOW\SHVRILQSXWIURPWKH+773UHTXHVWLQFOXGLQJ85/VIRUPV
FRRNLHVTXHU\VWULQJVKLGGHQILHOGVDQGSDUDPHWHUV

7KH2:$63)LOWHUVSURMHFWLVSURGXFLQJUHXVDEOHFRPSRQHQWVLQVHYHUDOODQJXDJHVWRKHOSSUHYHQWPDQ\IRUPVRISDUDPHWHU
WDPSHULQJ2:$63KDVUHOHDVHG&RGH6HHNHUDQDSSOLFDWLRQOHYHOILUHZDOO



 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  




$ %URNHQ$FFHVV&RQWURO

$ 'HVFULSWLRQ
$FFHVVFRQWUROVRPHWLPHVFDOOHGDXWKRUL]DWLRQLVKRZDZHEDSSOLFDWLRQJUDQWVDFFHVVWRFRQWHQWDQGIXQFWLRQVWRVRPH
XVHUVDQGQRWRWKHUV7KHVHFKHFNVDUHSHUIRUPHGDIWHUDXWKHQWLFDWLRQDQGJRYHUQZKDWµDXWKRUL]HG¶XVHUVDUHDOORZHGWRGR
$FFHVVFRQWUROVRXQGVOLNHDVLPSOHSUREOHPEXWLVLQVLGLRXVO\GLIILFXOWWRLPSOHPHQWFRUUHFWO\$ZHEDSSOLFDWLRQ¶VDFFHVV
FRQWUROPRGHOLVFORVHO\WLHGWRWKHFRQWHQWDQGIXQFWLRQVWKDWWKHVLWHSURYLGHV,QDGGLWLRQWKHXVHUVPD\IDOOLQWRDQXPEHURI
JURXSVRUUROHVZLWKGLIIHUHQWDELOLWLHVRUSULYLOHJHV

'HYHORSHUVIUHTXHQWO\XQGHUHVWLPDWHWKHGLIILFXOW\RILPSOHPHQWLQJDUHOLDEOHDFFHVVFRQWUROPHFKDQLVP0DQ\RIWKHVH
VFKHPHVZHUHQRWGHOLEHUDWHO\GHVLJQHGEXWKDYHVLPSO\HYROYHGDORQJZLWKWKHZHEVLWH,QWKHVHFDVHVDFFHVVFRQWURO
UXOHVDUHLQVHUWHGLQYDULRXVORFDWLRQVDOORYHUWKHFRGH$VWKHVLWHQHDUVGHSOR\PHQWWKHDGKRFFROOHFWLRQRIUXOHVEHFRPHV
VRXQZLHOG\WKDWLWLVDOPRVWLPSRVVLEOHWRXQGHUVWDQG

0DQ\RIWKHVHIODZHGDFFHVVFRQWUROVFKHPHVDUHQRWGLIILFXOWWRGLVFRYHUDQGH[SORLW)UHTXHQWO\DOOWKDWLVUHTXLUHGLVWRFUDIW
DUHTXHVWIRUIXQFWLRQVRUFRQWHQWWKDWVKRXOGQRWEHJUDQWHG2QFHDIODZLVGLVFRYHUHGWKHFRQVHTXHQFHVRIDIODZHG
DFFHVVFRQWUROVFKHPHFDQEHGHYDVWDWLQJ,QDGGLWLRQWRYLHZLQJXQDXWKRUL]HGFRQWHQWDQDWWDFNHUPLJKWEHDEOHWRFKDQJH
RUGHOHWHFRQWHQWSHUIRUPXQDXWKRUL]HGIXQFWLRQVRUHYHQWDNHRYHUVLWHDGPLQLVWUDWLRQ

$ (QYLURQPHQWV$IIHFWHG
$OONQRZQZHEVHUYHUVDSSOLFDWLRQVHUYHUVDQGZHEDSSOLFDWLRQHQYLURQPHQWVDUHVXVFHSWLEOHWRDWOHDVWVRPHRIWKHVH
LVVXHV(YHQLIDVLWHLVFRPSOHWHO\VWDWLFLILWLVQRWFRQILJXUHGSURSHUO\KDFNHUVFRXOGJDLQDFFHVVWRVHQVLWLYHILOHVDQG
GHIDFHWKHVLWHRUSHUIRUPRWKHUPLVFKLHI

$ ([DPSOHVDQG5HIHUHQFHV
„ 2:$63GLVFXVVLRQRQ3DWK7UDYHUVDOKWWSZZZRZDVSRUJDVDFLQSXWBYDOLGDWLRQSWVKWPO
„ 2:$63*XLGHWR%XLOGLQJ6HFXUH:HE$SSOLFDWLRQVDQG:HE6HUYLFHV&KDSWHU$FFHVV&RQWURO
KWWSZZZRZDVSRUJJXLGH

$ +RZWR'HWHUPLQH,I<RX$UH9XOQHUDEOH
9LUWXDOO\DOOVLWHVKDYHDFFHVVFRQWUROUHTXLUHPHQWV7KHUHIRUHDQDFFHVVFRQWUROSROLF\VKRXOGEHFOHDUO\GRFXPHQWHG$OVR
WKHGHVLJQGRFXPHQWDWLRQVKRXOGFDSWXUHDQDSSURDFKIRUHQIRUFLQJWKLVSROLF\,IWKLVGRFXPHQWDWLRQGRHVQRWH[LVWWKHQD
VLWHLVOLNHO\WREHYXOQHUDEOH

7KHFRGHWKDWLPSOHPHQWVWKHDFFHVVFRQWUROSROLF\VKRXOGEHFKHFNHG6XFKFRGHVKRXOGEHZHOOVWUXFWXUHGPRGXODUDQG
PRVWOLNHO\FHQWUDOL]HG$GHWDLOHGFRGHUHYLHZVKRXOGEHSHUIRUPHGWRYDOLGDWHWKHFRUUHFWQHVVRIWKHDFFHVVFRQWURO
LPSOHPHQWDWLRQ,QDGGLWLRQSHQHWUDWLRQWHVWLQJFDQEHTXLWHXVHIXOLQGHWHUPLQLQJLIWKHUHDUHSUREOHPVLQWKHDFFHVVFRQWURO
VFKHPH

$ +RZWR3URWHFW<RXUVHOI
7KHPRVWLPSRUWDQWVWHSLVWRWKLQNWKURXJKDQDSSOLFDWLRQ¶VDFFHVVFRQWURODQGFDSWXUHLWLQDZHEDSSOLFDWLRQVHFXULW\SROLF\
:LWKRXWGRFXPHQWLQJWKHVHFXULW\SROLF\WKHUHLVQRGHILQLWLRQRIZKDWLWPHDQVWREHVHFXUHIRUWKDWVLWH7KHSROLF\VKRXOG
GRFXPHQWZKDWW\SHVRIXVHUVFDQDFFHVVWKHV\VWHPDQGZKDWIXQFWLRQVDQGFRQWHQWHDFKRIWKHVHW\SHVRIXVHUVVKRXOG
EHDOORZHGWRDFFHVV7KHDFFHVVFRQWUROPHFKDQLVPVKRXOGEHH[WHQVLYHO\WHVWHGWREHVXUHWKDWWKHUHLVQRZD\WRE\SDVV
LW7KLVWHVWLQJUHTXLUHVDYDULHW\RIDFFRXQWVDQGH[WHQVLYHDWWHPSWVWRDFFHVVXQDXWKRUL]HGFRQWHQWRUIXQFWLRQV



 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  



6RPHVSHFLILFDFFHVVFRQWUROLVVXHVLQFOXGH

„ ,QVHFXUH,G¶V±0RVWODUJHZHEVLWHVXVHVRPHIRUPRILGNH\RULQGH[DVDZD\WRUHIHUHQFHXVHUVFRQWHQWRU
IXQFWLRQV,IDQDWWDFNHUFDQJXHVVWKHVHLG¶VWKH\FDQH[HUFLVHWKHDFFHVVFRQWUROVFKHPHIUHHO\WRVHHZKDWWKH\
FDQDFFHVV:HEDSSOLFDWLRQVVKRXOGQRWUHO\RQWKHVHFUHF\RIDQ\LG¶VIRUSURWHFWLRQ
„ )RUFHG%URZVLQJ3DVW$FFHVV&RQWURO&KHFNV±PDQ\VLWHVUHTXLUHXVHUVWRSDVVFHUWDLQFKHFNVEHIRUHEHLQJ
JUDQWHGDFFHVVWRFHUWDLQ85/VWKDWDUHW\SLFDOO\µGHHSHU¶GRZQLQWKHVLWH7KHVHFKHFNVPXVWQRWEHE\SDVVDEOH
E\DXVHUWKDWVLPSO\VNLSVRYHUWKHSDJHZLWKWKHVHFXULW\FKHFN
„ 3DWK7UDYHUVDO±7KLVDWWDFNLQYROYHVSURYLGLQJUHODWLYHSDWKLQIRUPDWLRQ HJ³WDUJHWBGLUWDUJHWBILOH´ DVSDUWRID
UHTXHVWIRULQIRUPDWLRQ6XFKDWWDFNVWU\WRDFFHVVILOHVWKDWDUHQRUPDOO\QRWGLUHFWO\DFFHVVLEOHE\DQ\RQHRUZRXOG
RWKHUZLVHEHGHQLHGLIUHTXHVWHGGLUHFWO\6XFKDWWDFNVFDQEHVXEPLWWHGLQ85/VDVZHOODVDQ\RWKHULQSXWWKDW
XOWLPDWHO\DFFHVVHVDILOH LHV\VWHPFDOOVDQGVKHOOFRPPDQGV 
„ )LOH3HUPLVVLRQV±0DQ\ZHEDQGDSSOLFDWLRQVHUYHUVUHO\RQDFFHVVFRQWUROOLVWVSURYLGHGE\WKHILOHV\VWHPRIWKH
XQGHUO\LQJSODWIRUP(YHQLIDOPRVWDOOGDWDLVVWRUHGRQEDFNHQGVHUYHUVWKHUHDUHDOZD\VILOHVVWRUHGORFDOO\RQWKH
ZHEDQGDSSOLFDWLRQVHUYHUWKDWVKRXOGQRWEHSXEOLFO\DFFHVVLEOHSDUWLFXODUO\FRQILJXUDWLRQILOHVGHIDXOWILOHVDQG
VFULSWVWKDWDUHLQVWDOOHGRQPRVWZHEDQGDSSOLFDWLRQVHUYHUV2QO\ILOHVWKDWDUHVSHFLILFDOO\LQWHQGHGWREH
SUHVHQWHGWRZHEXVHUVVKRXOGEHPDUNHGDVUHDGDEOHXVLQJWKH26¶VSHUPLVVLRQVPHFKDQLVPPRVWGLUHFWRULHV
VKRXOGQRWEHUHDGDEOHDQGYHU\IHZILOHVLIDQ\VKRXOGEHPDUNHGH[HFXWDEOH
„ &OLHQW6LGH&DFKLQJ±0DQ\XVHUVDFFHVVZHEDSSOLFDWLRQVIURPVKDUHGFRPSXWHUVORFDWHGLQOLEUDULHVVFKRROV
DLUSRUWVDQGRWKHUSXEOLFDFFHVVSRLQWV%URZVHUVIUHTXHQWO\FDFKHZHESDJHVWKDWFDQEHDFFHVVHGE\DWWDFNHUV
WRJDLQDFFHVVWRRWKHUZLVHLQDFFHVVLEOHSDUWVRIVLWHV'HYHORSHUVVKRXOGXVHPXOWLSOHPHFKDQLVPVLQFOXGLQJ
+773KHDGHUVDQGPHWDWDJVWREHVXUHWKDWSDJHVFRQWDLQLQJVHQVLWLYHLQIRUPDWLRQDUHQRWFDFKHG


7KHUHDUHVRPHDSSOLFDWLRQOD\HUVHFXULW\FRPSRQHQWVWKDWFDQDVVLVWLQWKHSURSHUHQIRUFHPHQWRIVRPHDVSHFWVRI\RXU
DFFHVVFRQWUROVFKHPH$JDLQDVIRUSDUDPHWHUYDOLGDWLRQWREHHIIHFWLYHWKHFRPSRQHQWPXVWEHFRQILJXUHGZLWKDVWULFW
GHILQLWLRQRIZKDWDFFHVVUHTXHVWVDUHYDOLGIRU\RXUVLWH:KHQXVLQJVXFKDFRPSRQHQW\RXPXVWEHFDUHIXOWRXQGHUVWDQG
H[DFWO\ZKDWDFFHVVFRQWURODVVLVWDQFHWKHFRPSRQHQWFDQSURYLGHIRU\RXJLYHQ\RXUVLWH¶VVHFXULW\SROLF\DQGZKDWSDUWRI
\RXUDFFHVVFRQWUROSROLF\WKDWWKHFRPSRQHQWFDQQRWGHDOZLWKDQGWKHUHIRUHPXVWEHSURSHUO\GHDOWZLWKLQ\RXURZQFXVWRP
FRGH



 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  




$ %URNHQ$FFRXQWDQG6HVVLRQ0DQDJHPHQW

$ 'HVFULSWLRQ
$FFRXQWDQGVHVVLRQPDQDJHPHQWLQFOXGHVDOODVSHFWVRIKDQGOLQJXVHUDFFRXQWVDQGDFWLYHVHVVLRQV$XWKHQWLFDWLRQLVRQH
SDUWRIWKLVSURFHVVEXWHYHQVROLGDXWKHQWLFDWLRQPHFKDQLVPVFDQEHXQGHUPLQHGE\IODZHGFUHGHQWLDOPDQDJHPHQW
IXQFWLRQVLQFOXGLQJSDVVZRUGFKDQJHIRUJRWP\SDVVZRUGUHPHPEHUP\SDVVZRUGDFFRXQWXSGDWHDQGRWKHUUHODWHG
IXQFWLRQV,QDGGLWLRQPDQDJLQJDFWLYHVHVVLRQVUHTXLUHVDVWURQJVHVVLRQLGHQWLILHUWKDWFDQ¶WEHJXHVVHGKLMDFNHGRU
FDSWXUHG

8VHUDXWKHQWLFDWLRQRQWKHZHEW\SLFDOO\LQYROYHVWKHXVHRIDXVHULGDQGSDVVZRUG6WURQJHUPHWKRGVRIDXWKHQWLFDWLRQDUH
FRPPHUFLDOO\DYDLODEOHVXFKDVVRIWZDUHDQGKDUGZDUHEDVHGFU\SWRJUDSKLFWRNHQVELRPHWULFVHWFEXWVXFKPHFKDQLVPV
DUHXVXDOO\FRVWSURKLELWLYHIRUPRVWZHEDSSOLFDWLRQV$ZLGHDUUD\RIDFFRXQWDQGVHVVLRQPDQDJHPHQWIODZVFDQUHVXOWLQ
WKHFRPSURPLVHRIXVHURUV\VWHPDGPLQLVWUDWLRQDFFRXQWV'HYHORSPHQWWHDPVIUHTXHQWO\XQGHUHVWLPDWHWKHFRPSOH[LW\RI
GHVLJQLQJDQDXWKHQWLFDWLRQDQGVHVVLRQPDQDJHPHQWVFKHPHWKDWDGHTXDWHO\SURWHFWVFUHGHQWLDOVLQDOODVSHFWVRIWKHVLWH

:HEDSSOLFDWLRQVPXVWHVWDEOLVKVHVVLRQVWRNHHSWUDFNRIWKHVWUHDPRIUHTXHVWVIURPHDFKXVHU+773GRHVQRWSURYLGHWKLV
FDSDELOLW\VRZHEDSSOLFDWLRQVPXVWFUHDWHLWWKHPVHOYHV)UHTXHQWO\WKHZHEDSSOLFDWLRQHQYLURQPHQWSURYLGHVDVHVVLRQ
FDSDELOLW\EXWPDQ\GHYHORSHUVSUHIHUWRFUHDWHWKHLURZQVHVVLRQWRNHQV,QDQ\FDVHLIWKHVHVVLRQWRNHQVDUHQRW
SURWHFWHGDQDWWDFNHUFDQKLMDFNDQDFWLYHVHVVLRQDQGDVVXPHWKHLGHQWLW\RIDXVHU&UHDWLQJVWURQJVHVVLRQWRNHQVDQG
SURWHFWLQJWKHPWKURXJKRXWWKHLUOLIHF\FOHKDVSURYHQHOXVLYHIRUPDQ\GHYHORSHUV

$QRWKHUPDMRUULVNLQWKLVFDWHJRU\LVUHODWHGWREDFNHQGDXWKHQWLFDWLRQ%DFNHQGDXWKHQWLFDWLRQLVKRZDZHEDSSOLFDWLRQ
DXWKHQWLFDWHVLWVHOIWREDFNHQGV\VWHPVVXFKDVGDWDEDVHVGLUHFWRULHVDQGZHEVHUYLFHV7KHZHEDSSOLFDWLRQPXVWKDYH
DFFHVVWRWKHSURSHUFUHGHQWLDOVZKLFKPHDQVWKDWLIWKHZHEVHUYHULVFRPSURPLVHGWKHEDFNHQGV\VWHPVDUHDWULVN2IWHQ
SODLQWH[WSDVVZRUGVDUHHPEHGGHGLQWKHVRXUFHFRGHRUFRQILJXUDWLRQILOHV6HUYHUIODZVFDQEHH[SORLWHGWRYLHZWKHVHILOHV

0DQ\RIWKHVHIODZVDUHWULYLDOWRGLVFRYHUDQGH[SORLW7KHFRQVHTXHQFHVDUHW\SLFDOO\WKHFRPSURPLVHRIDVLQJOHDFFRXQW
+RZHYHULQVRPHFDVHVWKHVHIODZVFDQUHVXOWLQWKHFRPSURPLVHRIDEDFNHQGV\VWHPDQDGPLQLVWUDWRUDFFRXQWRUD
WHFKQLTXHIRUJDLQLQJDFFHVVWRYLUWXDOO\DQ\XVHU¶VDFFRXQW7KHVHDWWDFNVFRXOGEHGHYDVWDWLQJIRUDZHEDSSOLFDWLRQ

$ (QYLURQPHQWV$IIHFWHG
$OONQRZQZHEVHUYHUVDSSOLFDWLRQVHUYHUVDQGZHEDSSOLFDWLRQHQYLURQPHQWVDUHVXVFHSWLEOHWREURNHQDFFRXQWDQGVHVVLRQ
PDQDJHPHQWLVVXHV

$ ([DPSOHVDQG5HIHUHQFHV
„ 2:$63GLVFXVVLRQRQ$XWKHQWLFDWLRQDQG6HVVLRQ0DQDJHPHQWKWWSZZZRZDVSRUJDVDFDXWKVHVVLRQ
„ 2:$63*XLGHWR%XLOGLQJ6HFXUH:HE$SSOLFDWLRQVDQG:HE6HUYLFHV&KDSWHU$XWKHQWLFDWLRQDQG&KDSWHU
6HVVLRQ0DQDJHPHQWKWWSZZZRZDVSRUJJXLGH
„ :KLWHSDSHURQWKH6HVVLRQ)L[DWLRQ9XOQHUDELOLW\LQ:HEEDVHG$SSOLFDWLRQV
KWWSZZZDFURVVLSDSHUVVHVVLRQBIL[DWLRQSGI
„ :KLWHSDSHURQ3DVVZRUG5HFRYHU\IRU:HEEDVHG$SSOLFDWLRQV
KWWSILVKERZOSDVWLFKHRUJDUFKLYHVGRFV3DVVZRUG5HFRYHU\SGI

$ +RZWR'HWHUPLQH,I<RX$UH9XOQHUDEOH
%RWKFRGHUHYLHZDQGSHQHWUDWLRQWHVWLQJFDQEHXVHGWRGLDJQRVHDFFRXQWDQGVHVVLRQPDQDJHPHQWSUREOHPV&DUHIXOO\
UHYLHZHDFKDVSHFWRI\RXUDFFRXQWPHFKDQLVPVWRHQVXUHWKDWXVHU¶VFUHGHQWLDOVDUHSURWHFWHGDWDOOWLPHVZKLOHWKH\DUHDW
UHVW HJRQGLVN DQGZKLOHWKH\DUHLQWUDQVLW HJGXULQJORJLQ 5HYLHZHYHU\DYDLODEOHPHFKDQLVPIRUFKDQJLQJDXVHU¶V
FUHGHQWLDOVWRHQVXUHWKDWRQO\DQDXWKRUL]HGXVHUFDQFKDQJHWKHP5HYLHZ\RXUVHVVLRQPDQDJHPHQWPHFKDQLVPWR


 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  



HQVXUHWKDWVHVVLRQLGHQWLILHUVDUHDOZD\VSURWHFWHGDQGDUHXVHGLQVXFKDZD\DVWRPLQLPL]HWKHOLNHOLKRRGRIDFFLGHQWDORU
KRVWLOHH[SRVXUH

$ +RZWR3URWHFW<RXUVHOI
&DUHIXODQGSURSHUXVHRIFXVWRPRURIIWKHVKHOIDXWKHQWLFDWLRQDQGVHVVLRQPDQDJHPHQWPHFKDQLVPVVKRXOGVLJQLILFDQWO\
UHGXFHWKHOLNHOLKRRGRIDSUREOHPLQWKLVDUHD'HILQLQJDQGGRFXPHQWLQJ\RXUVLWH¶VSROLF\ZLWKUHVSHFWWRVHFXUHO\PDQDJLQJ
XVHUVLVDJRRGILUVWVWHS(QVXULQJWKDW\RXULPSOHPHQWDWLRQFRQVLVWHQWO\HQIRUFHVWKLVSROLF\LVNH\WRKDYLQJDVHFXUHDQG
UREXVWDFFRXQWDQGVHVVLRQPDQDJHPHQWPHFKDQLVP6RPHFULWLFDODUHDVLQFOXGH

„ 3DVVZRUG&KDQJH&RQWUROV$VLQJOHSDVVZRUGFKDQJHPHFKDQLVPVKRXOGEHXVHGZKHUHYHUXVHUVDUHDOORZHGWR
FKDQJHDSDVVZRUGUHJDUGOHVVRIWKHVLWXDWLRQ8VHUVVKRXOGDOZD\VEHUHTXLUHGWRSURYLGHERWKWKHLUROGDQGQHZ
SDVVZRUGZKHQFKDQJLQJWKHLUSDVVZRUG OLNHDOODFFRXQWLQIRUPDWLRQ ,IIRUJRWWHQSDVVZRUGVDUHHPDLOHGWRXVHUV
WKHV\VWHPVKRXOGUHTXLUHWKHXVHUWRUHDXWKHQWLFDWHZKHQHYHUWKHXVHULVFKDQJLQJWKHLUHPDLODGGUHVVRWKHUZLVH
DQDWWDFNHUZKRWHPSRUDULO\KDVDFFHVVWRWKHLUVHVVLRQ LHE\ZDONLQJXSWRWKHLUFRPSXWHUZKLOHWKH\DUHORJJHG
LQ FDQVLPSO\FKDQJHWKHLUHPDLODGGUHVVDQGUHTXHVWDµIRUJRWWHQ¶SDVVZRUGEHPDLOHGWRWKHP
„ 3DVVZRUG6WUHQJWKSDVVZRUGVVKRXOGKDYHUHVWULFWLRQVWKDWUHTXLUHDPLQLPXPVL]HDQGFRPSOH[LW\IRUWKH
SDVVZRUG8VHUVVKRXOGEHUHTXLUHGWRFKDQJHWKHPSHULRGLFDOO\8VHUVVKRXOGEHUHVWULFWHGWRDGHILQHGQXPEHURI
ORJLQDWWHPSWVSHUXQLWRIWLPHDQGUHSHDWHGIDLOHGORJLQDWWHPSWVVKRXOGEHORJJHG3DVVZRUG¶VSURYLGHGGXULQJ
IDLOHGORJLQDWWHPSWVVKRXOGQRWEHUHFRUGHGDVWKLVPD\H[SRVHDXVHU¶VSDVVZRUGWRZKRHYHUFDQJDLQDFFHVVWR
WKLVORJ7KHV\VWHPVKRXOGQRWLQGLFDWHZKHWKHULWZDVWKHXVHUQDPHRUSDVVZRUGWKDWZDVZURQJLIDORJLQDWWHPSW
IDLOV
„ 3DVVZRUG6WRUDJH$OOSDVVZRUGVPXVWEHVWRUHGLQHLWKHUKDVKHGRUHQFU\SWHGIRUPWRSURWHFWWKHPIURP
H[SRVXUHUHJDUGOHVVRIZKHUHWKH\DUHVWRUHG+DVKHGIRUPLVSUHIHUUHGVLQFHLWLVQRWUHYHUVLEOH(QFU\SWLRQVKRXOG
EHXVHGZKHQWKHSODLQWH[WSDVVZRUGLVQHHGHGVXFKDVZKHQXVLQJWKHSDVVZRUGWRORJLQWRDQRWKHUV\VWHP
3DVVZRUGVVKRXOGQHYHUEHKDUGFRGHGLQDQ\VRXUFHFRGH'HFU\SWLRQNH\VPXVWEHVWURQJO\SURWHFWHGWRHQVXUH
WKDWWKH\FDQQRWEHJUDEEHGDQGXVHGWRGHFU\SWWKHSDVVZRUGILOH
„ 3URWHFWLQJ&UHGHQWLDOVLQ7UDQVLW7KHRQO\HIIHFWLYHWHFKQLTXHLVWRHQFU\SWWKHHQWLUHORJLQWUDQVDFWLRQXVLQJ
VRPHWKLQJOLNH66/6LPSOHWUDQVIRUPDWLRQVRIWKHSDVVZRUGVXFKDVKDVKLQJLWRQWKHFOLHQWSULRUWRWUDQVPLVVLRQ
SURYLGHOLWWOHSURWHFWLRQDVWKHKDVKHGYHUVLRQFDQVLPSO\EHLQWHUFHSWHGDQGUHWUDQVPLWWHGHYHQWKRXJKWKHDFWXDO
SODLQWH[WSDVVZRUGLVQRWNQRZQ
„ 6HVVLRQ,'3URWHFWLRQ±,GHDOO\DXVHU¶VHQWLUHVHVVLRQVKRXOGEHSURWHFWHGYLD66/,IWKLVLVGRQHWKHQWKHVHVVLRQ
,'FDQQRWEHJUDEEHGRIIWKHQHWZRUNZKLFKLVWKHELJJHVWULVNRIH[SRVXUHIRUDVHVVLRQ,',I66/LVQRWYLDEOHIRU
SHUIRUPDQFHRURWKHUUHDVRQVWKHQVHVVLRQ,'VWKHPVHOYHVPXVWEHSURWHFWHGLQRWKHUZD\V)LUVWWKH\VKRXOG
QHYHUEHLQFOXGHGLQWKH85/DVWKH\FDQEHFDFKHGE\WKHEURZVHUVHQWLQWKHUHIHUUHUKHDGHURUDFFLGHQWDOO\
IRUZDUGHGWRDµIULHQG¶6HVVLRQ,'VVKRXOGEHORQJFRPSOLFDWHGUDQGRPQXPEHUVWKDWFDQQRWEHHDVLO\JXHVVHG
6HVVLRQ,'VFDQDOVREHFKDQJHGIUHTXHQWO\GXULQJDVHVVLRQWRUHGXFHKRZORQJDVHVVLRQ,'LVYDOLG6HVVLRQ,'V
PXVWEHFKDQJHGZKHQVZLWFKLQJWR66/DXWKHQWLFDWLQJRURWKHUPDMRUWUDQVLWLRQV6HVVLRQ,'VFKRVHQE\DXVHU
VKRXOGQHYHUEHDFFHSWHG
„ $FFRXQW/LVWV6\VWHPVVKRXOGEHGHVLJQHGWRDYRLGDOORZLQJXVHUVWRJDLQDFFHVVWRDOLVWRIWKHDFFRXQWQDPHV
RQWKHVLWH,IOLVWVRIXVHUVPXVWEHSUHVHQWHGLWLVUHFRPPHQGHGWKDWVRPHIRUPRISVHXGRQ\P VFUHHQQDPH WKDW
PDSVWRWKHDFWXDODFFRXQWEHOLVWHGLQVWHDG7KDWZD\WKHSVHXGRQ\PFDQ¶WEHXVHGGXULQJDORJLQDWWHPSWRU
VRPHRWKHUKDFNWKDWJRHVDIWHUDXVHU¶VDFFRXQW
„ %URZVHU&DFKLQJ±$XWKHQWLFDWLRQDQGVHVVLRQGDWDVKRXOGQHYHUEHVXEPLWWHGDVSDUWRID*(73267VKRXOG
DOZD\VEHXVHGLQVWHDG$XWKHQWLFDWLRQSDJHVVKRXOGEHPDUNHGZLWKDOOYDULHWLHVRIWKHQRFDFKHWDJWRSUHYHQW
VRPHRQHIURPXVLQJWKHEDFNEXWWRQLQDXVHU¶VEURZVHUWREDFNXSWRWKHORJLQSDJHDQGUHVXEPLWWKHSUHYLRXVO\
W\SHGLQFUHGHQWLDOV
„ 7UXVW5HODWLRQVKLSV±<RXUVLWHDUFKLWHFWXUHVKRXOGDYRLGLPSOLFLWWUXVWEHWZHHQFRPSRQHQWVZKHQHYHUSRVVLEOH
(DFKFRPSRQHQWVKRXOGDXWKHQWLFDWHLWVHOIWRDQ\RWKHUFRPSRQHQWLWLVLQWHUDFWLQJZLWKXQOHVVWKHUHLVDVWURQJ
UHDVRQQRWWR VXFKDVSHUIRUPDQFHRUODFNRIDXVDEOHPHFKDQLVP ,IWUXVWUHODWLRQVKLSVDUHUHTXLUHGVWURQJ
SURFHGXUDODQGDUFKLWHFWXUHPHFKDQLVPVVKRXOGEHLQSODFHWRHQVXUHWKDWVXFKWUXVWFDQQRWEHDEXVHGDVWKHVLWH
DUFKLWHFWXUHHYROYHVRYHUWLPH
„ %DFNHQG$XWKHQWLFDWLRQ±%DFNHQGDXWKHQWLFDWLRQFUHGHQWLDOVVKRXOGEHHQFU\SWHGDQGWKHPDVWHUNH\VKRXOGEH
VWRUHGLQDZD\WKDWPDNHVLWYHU\GLIILFXOWIRUDKDFNHUWRREWDLQ7KHXVHRI66/LVUHFRPPHQGHGIRUEDFNHQG
FRQQHFWLRQVWRPLQLPL]HWKHULVNIURPVQLIILQJ



 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  




$ &URVV6LWH6FULSWLQJ ;66 )ODZV

$ 'HVFULSWLRQ
&URVVVLWHVFULSWLQJ VRPHWLPHVUHIHUUHGWRDV;66 YXOQHUDELOLWLHVRFFXUZKHQDQDWWDFNHUXVHVDZHEDSSOLFDWLRQWRVHQG
PDOLFLRXVFRGHJHQHUDOO\-DYD6FULSWWRDGLIIHUHQWHQGXVHU:KHQDZHEDSSOLFDWLRQXVHVLQSXWIURPDXVHULQWKHRXWSXWLW
JHQHUDWHVZLWKRXWILOWHULQJLWDQDWWDFNHUFDQLQVHUWDQDWWDFNLQWKDWLQSXWDQGWKHZHEDSSOLFDWLRQVHQGVWKHDWWDFNWRRWKHU
XVHUV7KHHQGXVHUWUXVWVWKHZHEDSSOLFDWLRQDQGWKHDWWDFNVH[SORLWWKDWWUXVWWRGRWKLQJVWKDWZRXOGQRWQRUPDOO\EH
DOORZHG$WWDFNHUVIUHTXHQWO\XVHDYDULHW\RIPHWKRGVWRHQFRGHWKHPDOLFLRXVSRUWLRQRIWKHWDJVXFKDVXVLQJ8QLFRGHVR
WKHUHTXHVWLVOHVVVXVSLFLRXVORRNLQJWRWKHXVHU

;66DWWDFNVFDQJHQHUDOO\EHFDWHJRUL]HGLQWRWZRFDWHJRULHVVWRUHGDQGUHIOHFWHG6WRUHGDWWDFNVDUHWKRVHZKHUHWKH
LQMHFWHGFRGHLVSHUPDQHQWO\VWRUHGRQWKHWDUJHWVHUYHUVLQDGDWDEDVHLQDPHVVDJHIRUXPYLVLWRUORJHWF5HIOHFWHG
DWWDFNVDUHWKRVHZKHUHWKHLQMHFWHGFRGHWDNHVDQRWKHUURXWHWRWKHYLFWLPVXFKDVLQDQHPDLOPHVVDJHRURQVRPHRWKHU
VHUYHU:KHQDXVHULVWULFNHGLQWRFOLFNLQJRQDOLQNRUVXEPLWWLQJDIRUPWKHLQMHFWHGFRGHWUDYHOVWRWKHYXOQHUDEOHZHE
VHUYHUZKLFKUHIOHFWVWKHDWWDFNEDFNWRWKHXVHU¶VEURZVHU7KHEURZVHUWKHQH[HFXWHVWKHFRGHEHFDXVHLWFDPHIURPD
µWUXVWHG¶VHUYHU

7KHFRQVHTXHQFHRIDQ;66DWWDFNLVWKHVDPHUHJDUGOHVVRIZKHWKHULWLVVWRUHGRUUHIOHFWHG7KHGLIIHUHQFHLVLQKRZWKH
SD\ORDGDUULYHVDWWKHVHUYHU'RQRWEHIRROHGLQWRWKLQNLQJWKDWD³UHDGRQO\´RU³EURFKXUHZDUH´VLWHLVQRWYXOQHUDEOHWR
VHULRXVUHIOHFWHG;66DWWDFNV;66FDQFDXVHDYDULHW\RISUREOHPVIRUWKHHQGXVHUWKDWUDQJHLQVHYHULW\IURPDQ
DQQR\DQFHWRFRPSOHWHDFFRXQWFRPSURPLVH7KHPRVWVHYHUH;66DWWDFNVLQYROYHGLVFORVXUHRIWKHXVHU¶VVHVVLRQFRRNLH
DOORZLQJDQDWWDFNHUWRKLMDFNWKHXVHU¶VVHVVLRQDQGWDNHRYHUWKHDFFRXQW2WKHUGDPDJLQJDWWDFNVLQFOXGHWKHGLVFORVXUHRI
HQGXVHUILOHVLQVWDOODWLRQRI7URMDQKRUVHSURJUDPVUHGLUHFWLQJWKHXVHUWRVRPHRWKHUSDJHDQGPRGLI\LQJSUHVHQWDWLRQRI
FRQWHQW$Q;66YXOQHUDELOLW\DOORZLQJDQDWWDFNHUWRPRGLI\DSUHVVUHOHDVHRUQHZVLWHPFRXOGFKDQJHDFRPSDQ\¶VVWRFN
SULFHRUOHVVHQFRQVXPHUFRQILGHQFH$Q;66YXOQHUDELOLW\RQDSKDUPDFHXWLFDOVLWHFRXOGDOORZDQDWWDFNHUWRPRGLI\GRVDJH
LQIRUPDWLRQUHVXOWLQJLQDQRYHUGRVH

;66LVVXHVFDQDOVREHSUHVHQWLQZHEDQGDSSOLFDWLRQVHUYHUVDVZHOO0RVWZHEDQGDSSOLFDWLRQVHUYHUVJHQHUDWHVLPSOH
ZHESDJHVWRGLVSOD\LQWKHFDVHRIYDULRXVHUURUVVXFKDVDµSDJHQRWIRXQG¶RUDµLQWHUQDOVHUYHUHUURU¶,IWKHVH
SDJHVUHIOHFWEDFNDQ\LQIRUPDWLRQIURPWKHXVHU¶VUHTXHVWVXFKDVWKH85/WKH\ZHUHWU\LQJWRDFFHVVWKH\PD\EH
YXOQHUDEOHWRDUHIOHFWHG;66DWWDFN

7KHOLNHOLKRRGWKDWDVLWHFRQWDLQV;66YXOQHUDELOLWLHVLVH[WUHPHO\KLJK7KHUHDUHDZLGHYDULHW\RIZD\VWRWULFNZHE
DSSOLFDWLRQVLQWRUHOD\LQJPDOLFLRXVVFULSWV'HYHORSHUVWKDWDWWHPSWWRILOWHURXWWKHPDOLFLRXVSDUWVRIWKHVHUHTXHVWVDUHYHU\
OLNHO\WRRYHUORRNSRVVLEOHDWWDFNVRUHQFRGLQJV)LQGLQJWKHVHIODZVLVQRWWUHPHQGRXVO\GLIILFXOWIRUDWWDFNHUVDVDOOWKH\QHHG
LVDEURZVHUDQGVRPHWLPH7KHUHDUHQXPHURXVIUHHWRROVDYDLODEOHWKDWKHOSKDFNHUVILQGWKHVHIODZVDVZHOODVFDUHIXOO\
FUDIWDQGLQMHFW;66DWWDFNVLQWRDWDUJHWVLWH

$ (QYLURQPHQWV$IIHFWHG
$OOZHEVHUYHUVDSSOLFDWLRQVHUYHUVDQGZHEDSSOLFDWLRQHQYLURQPHQWVDUHVXVFHSWLEOHWRFURVVVLWHVFULSWLQJ

$ ([DPSOHVDQG5HIHUHQFHV
„ 2:$63'LVFXVVLRQRQ&URVV6LWH6FULSWLQJKWWSZZZRZDVSRUJDVDFLQSXWBYDOLGDWLRQFVVVKWPO
„ 7KH&URVV6LWH6FULSWLQJ)$4KWWSZZZFJLVHFXULW\FRPDUWLFOHV[VVIDTVKWPO
„ &(57$GYLVRU\RQ0DOLFLRXV+70/7DJVKWWSZZZFHUWRUJDGYLVRULHV&$KWPO
„ &(57³8QGHUVWDQGLQJ0DOLFLRXV&RQWHQW0LWLJDWLRQ´KWWSZZZFHUWRUJWHFKBWLSVPDOLFLRXVBFRGHBPLWLJDWLRQKWPO
„ &URVV6LWH6FULSWLQJ6HFXULW\([SRVXUH([HFXWLYH6XPPDU\
KWWSZZZPLFURVRIWFRPWHFKQHWWUHHYLHZGHIDXOWDVS"XUO WHFKQHWVHFXULW\WRSLFV([6XP&6DVS
„ 8QGHUVWDQGLQJWKHFDXVHDQGHIIHFWRI&669XOQHUDELOLWLHVKWWSZZZWHFKQLFDOLQIRQHWSDSHUV&66KWPO


 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  



„ ;66DWWDFNVXVXDOO\FRPHLQWKHIRUPRIHPEHGGHG-DYD6FULSW+RZHYHUDQ\HPEHGGHGDFWLYHFRQWHQWLVD
SRWHQWLDOVRXUFHRIGDQJHULQFOXGLQJ$FWLYH; 2/( 9%VFULSW6KRFNZDYH)ODVKDQGPRUH

$ +RZWR'HWHUPLQH,I<RX$UH9XOQHUDEOH
;66IODZVFDQEHGLIILFXOWWRLGHQWLI\DQGUHPRYHIURPDZHEDSSOLFDWLRQ7KHEHVWZD\WRILQGIODZVLVWRSHUIRUPDVHFXULW\
UHYLHZRIWKHFRGHDQGVHDUFKIRUDOOSODFHVZKHUHLQSXWIURPDQ+773UHTXHVWFRXOGSRVVLEO\PDNHLWVZD\LQWRWKH+70/
RXWSXW1RWHWKDWDYDULHW\RIGLIIHUHQW+70/WDJVFDQEHXVHGWRWUDQVPLWDPDOLFLRXV-DYD6FULSW1HVVXV1LNWRDQGVRPH
RWKHUDYDLODEOHWRROVFDQKHOSVFDQDZHEVLWHIRUWKHVHIODZVEXWFDQRQO\VFUDWFKWKHVXUIDFH,IRQHSDUWRIDZHEVLWHLV
YXOQHUDEOHWKHUHLVDKLJKOLNHOLKRRGWKDWWKHUHDUHRWKHUSUREOHPVDVZHOO

$ +RZWR3URWHFW<RXUVHOI
7KHEHVWZD\WRSURWHFWDZHEDSSOLFDWLRQIURP;66DWWDFNVLVWRKDYHDGHWDLOHGFRGHUHYLHZWKDWVHDUFKHVWKHFRGHIRU
YDOLGDWLRQRIDOOKHDGHUVFRRNLHVTXHU\VWULQJVIRUPILHOGVDQGKLGGHQILHOGV LHDOOSDUDPHWHUV DJDLQVWDULJRURXV
VSHFLILFDWLRQRIZKDWVKRXOGEHDOORZHG7KHYDOLGDWLRQVKRXOGQRWDWWHPSWWRLGHQWLI\DFWLYHFRQWHQWDQGUHPRYHILOWHURU
VDQLWL]HLW7KHUHDUHWRRPDQ\W\SHVRIDFWLYHFRQWHQWDQGWRRPDQ\ZD\VRIHQFRGLQJLWWRJHWDURXQGILOWHUVIRUVXFKFRQWHQW
:HVWURQJO\UHFRPPHQGDµSRVLWLYH¶VHFXULW\SROLF\WKDWVSHFLILHVZKDWLVDOORZHGµ1HJDWLYH¶RUDWWDFNVLJQDWXUHEDVHG
SROLFLHVDUHGLIILFXOWWRPDLQWDLQDQGDUHOLNHO\WREHLQFRPSOHWH

)LOWHULQJVFULSWRXWSXWFDQDOVRGHIHDW;66YXOQHUDELOLWLHVE\SUHYHQWLQJWKHPIURPEHLQJWUDQVPLWWHGWRXVHUV$SSOLFDWLRQV
FDQJDLQVLJQLILFDQWSURWHFWLRQE\FRQYHUWLQJWKHIROORZLQJFKDUDFWHUVLQWKHJHQHUDWHGRXWSXW VHHWKH;66)$4OLQNDERYHIRU
PRUHLQIRUPDWLRQ 

)URP 7R
 OW
! JW
 
 
 
 


7KH2:$63)LOWHUVSURMHFWLVSURGXFLQJUHXVDEOHFRPSRQHQWVLQVHYHUDOODQJXDJHVWRKHOSSUHYHQWPDQ\IRUPVRISDUDPHWHU
WDPSHULQJLQFOXGLQJWKHLQMHFWLRQRI;66DWWDFNV2:$63KDVUHOHDVHG&RGH6HHNHUDQDSSOLFDWLRQOHYHOILUHZDOO,QDGGLWLRQ
WKH2:$63:HE*RDWWUDLQLQJSURJUDPKDVDOHVVRQRQHQFRGLQJ



 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  




$ %XIIHU2YHUIORZV

$ 'HVFULSWLRQ
$WWDFNHUVXVHEXIIHURYHUIORZVWRFRUUXSWWKHH[HFXWLRQVWDFNRIDZHEDSSOLFDWLRQ%\VHQGLQJFDUHIXOO\FUDIWHGLQSXWWRDZHE
DSSOLFDWLRQDQDWWDFNHUFDQFDXVHWKHZHEDSSOLFDWLRQWRH[HFXWHDUELWUDU\FRGH±HIIHFWLYHO\WDNLQJRYHUWKHPDFKLQH%XIIHU
RYHUIORZVDUHQRWHDV\WRGLVFRYHUDQGHYHQZKHQRQHLVGLVFRYHUHGLWLVJHQHUDOO\H[WUHPHO\GLIILFXOWWRH[SORLW1HYHUWKHOHVV
DWWDFNHUVKDYHPDQDJHGWRLGHQWLI\EXIIHURYHUIORZVLQDVWDJJHULQJDUUD\RISURGXFWVDQGFRPSRQHQWV$QRWKHUYHU\VLPLODU
FODVVRIIODZVLVNQRZQDVIRUPDWVWULQJDWWDFNV

%XIIHURYHUIORZIODZVFDQEHSUHVHQWLQERWKWKHZHEVHUYHURUDSSOLFDWLRQVHUYHUSURGXFWVWKDWVHUYHWKHVWDWLFDQGG\QDPLF
DVSHFWVRIWKHVLWHRUWKHZHEDSSOLFDWLRQLWVHOI%XIIHURYHUIORZVIRXQGLQZLGHO\XVHGVHUYHUSURGXFWVDUHOLNHO\WREHFRPH
ZLGHO\NQRZQDQGFDQSRVHDVLJQLILFDQWULVNWRXVHUVRIWKHVHSURGXFWV:KHQZHEDSSOLFDWLRQVXVHOLEUDULHVVXFKDVD
JUDSKLFVOLEUDU\WRJHQHUDWHLPDJHVWKH\RSHQWKHPVHOYHVWRSRWHQWLDOEXIIHURYHUIORZDWWDFNV

%XIIHURYHUIORZVFDQDOVREHIRXQGLQFXVWRPZHEDSSOLFDWLRQFRGHDQGPD\HYHQEHPRUHOLNHO\JLYHQWKHODFNRIVFUXWLQ\
WKDWZHEDSSOLFDWLRQVW\SLFDOO\JRWKURXJK%XIIHURYHUIORZIODZVLQFXVWRPZHEDSSOLFDWLRQVDUHOHVVOLNHO\WREHGHWHFWHG
EHFDXVHWKHUHZLOOQRUPDOO\EHIDUIHZHUKDFNHUVWU\LQJWRILQGDQGH[SORLWVXFKIODZVLQDVSHFLILFDSSOLFDWLRQ,IGLVFRYHUHGLQ
DFXVWRPDSSOLFDWLRQWKHDELOLW\WRH[SORLWWKHIODZ RWKHUWKDQWRFUDVKWKHDSSOLFDWLRQ LVVLJQLILFDQWO\UHGXFHGE\WKHIDFWWKDW
WKHVRXUFHFRGHDQGGHWDLOHGHUURUPHVVDJHVIRUWKHDSSOLFDWLRQDUHQRUPDOO\QRWDYDLODEOHWRWKHKDFNHU

$ (QYLURQPHQWV$IIHFWHG
$OPRVWDOONQRZQZHEVHUYHUVDSSOLFDWLRQVHUYHUVDQGZHEDSSOLFDWLRQHQYLURQPHQWVDUHVXVFHSWLEOHWREXIIHURYHUIORZVWKH
QRWDEOHH[FHSWLRQEHLQJ-DYDDQG-((HQYLURQPHQWVZKLFKDUHLPPXQHWRWKHVHDWWDFNV H[FHSWIRURYHUIORZVLQWKH-90
LWVHOI 

$ ([DPSOHVDQG5HIHUHQFHV
„ $OHSK2QH³6PDVKLQJWKH6WDFNIRU)XQDQG3URILW´KWWSZZZSKUDFNFRPVKRZSKS"S  D 
„ 0DUN'RQDOGVRQ³,QVLGHWKH%XIIHU2YHUIORZ$WWDFN0HFKDQLVP0HWKRG 3UHYHQWLRQ´
KWWSUUVDQVRUJFRGHLQVLGHBEXIIHUSKS

$ +RZWR'HWHUPLQH,I<RX$UH9XOQHUDEOH
)RUVHUYHUSURGXFWVDQGOLEUDULHVNHHSXSZLWKWKHODWHVWEXJUHSRUWVIRUWKHSURGXFWV\RXDUHXVLQJ)RUFXVWRPDSSOLFDWLRQ
VRIWZDUHDOOFRGHWKDWDFFHSWVLQSXWIURPXVHUVYLDWKH+773UHTXHVWPXVWEHUHYLHZHGWRHQVXUHWKDWLWFDQSURSHUO\KDQGOH
DUELWUDULO\ODUJHLQSXW

$ +RZWR3URWHFW<RXUVHOI
.HHSXSZLWKWKHODWHVWEXJUHSRUWVIRU\RXUZHEDQGDSSOLFDWLRQVHUYHUSURGXFWVDQGRWKHUSURGXFWVLQ\RXU,QWHUQHW
LQIUDVWUXFWXUH$SSO\WKHODWHVWSDWFKHVWRWKHVHSURGXFWV3HULRGLFDOO\VFDQ\RXUZHEVLWHZLWKRQHRUPRUHRIWKHFRPPRQO\
DYDLODEOHVFDQQHUVWKDWORRNIRUEXIIHURYHUIORZIODZVLQ\RXUVHUYHUSURGXFWVDQG\RXUFXVWRPZHEDSSOLFDWLRQV

)RU\RXUFXVWRPDSSOLFDWLRQFRGH\RXQHHGWRUHYLHZDOOFRGHWKDWDFFHSWVLQSXWIURPXVHUVYLDWKH+773UHTXHVWDQG
HQVXUHWKDWLWSURYLGHVDSSURSULDWHVL]HFKHFNLQJRQDOOVXFKLQSXWV7KLVVKRXOGEHGRQHHYHQIRUHQYLURQPHQWVWKDWDUHQRW
VXVFHSWLEOHWRVXFKDWWDFNVDVRYHUO\ODUJHLQSXWVWKDWDUHXQFDXJKWPD\VWLOOFDXVHGHQLDORIVHUYLFHRURWKHURSHUDWLRQDO
SUREOHPV



 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  




$ &RPPDQG,QMHFWLRQ)ODZV

$ 'HVFULSWLRQ
&RPPDQGLQMHFWLRQIODZVDOORZDWWDFNHUVWRUHOD\PDOLFLRXVFRGHWKURXJKDZHEDSSOLFDWLRQWRDQRWKHUV\VWHP7KHVHDWWDFNV
LQFOXGHFDOOVWRWKHRSHUDWLQJV\VWHPYLDV\VWHPFDOOVWKHXVHRIH[WHUQDOSURJUDPVYLDVKHOOFRPPDQGVDVZHOODVFDOOVWR
EDFNHQGGDWDEDVHVYLD64/ LH64/LQMHFWLRQ :KROHVFULSWVZULWWHQLQSHUOS\WKRQDQGRWKHUODQJXDJHVFDQEHLQMHFWHG
LQWRSRRUO\GHVLJQHGZHEDSSOLFDWLRQVDQGH[HFXWHG$Q\WLPHDZHEDSSOLFDWLRQXVHVDQLQWHUSUHWHURIDQ\W\SHWKHUHLVD
GDQJHURIDQLQMHFWLRQDWWDFN

0DQ\ZHEDSSOLFDWLRQVXVHRSHUDWLQJV\VWHPIHDWXUHVDQGH[WHUQDOSURJUDPVWRSHUIRUPWKHLUIXQFWLRQV6HQGPDLOLVSUREDEO\
WKHPRVWIUHTXHQWO\LQYRNHGH[WHUQDOSURJUDPEXWPDQ\RWKHUSURJUDPVDUHXVHGDVZHOO:KHQDZHEDSSOLFDWLRQSDVVHV
LQIRUPDWLRQIURPDQ+773UHTXHVWWKURXJKDVSDUWRIDQH[WHUQDOUHTXHVWLWPXVWEHFDUHIXOO\VFUXEEHG2WKHUZLVHWKH
DWWDFNHUFDQLQMHFWVSHFLDO PHWD FKDUDFWHUVPDOLFLRXVFRPPDQGVRUFRPPDQGPRGLILHUVLQWRWKHLQIRUPDWLRQDQGWKHZHE
DSSOLFDWLRQZLOOEOLQGO\SDVVWKHVHRQWRWKHH[WHUQDOV\VWHPIRUH[HFXWLRQ

64/LQMHFWLRQLVDSDUWLFXODUO\ZLGHVSUHDGDQGGDQJHURXVIRUPRIFRPPDQGLQMHFWLRQ7RH[SORLWD64/LQMHFWLRQIODZWKH
DWWDFNHUPXVWILQGDSDUDPHWHUWKDWWKHZHEDSSOLFDWLRQSDVVHVWKURXJKWRDGDWDEDVH%\FDUHIXOO\PDQLSXODWLQJWKHFRQWHQW
RIWKHSDUDPHWHUWKHDWWDFNHUFDQWULFNWKHZHEDSSOLFDWLRQLQWRIRUZDUGLQJDPDOLFLRXVTXHU\WRWKHGDWDEDVH7KHVHDWWDFNV
DUHQRWGLIILFXOWWRDWWHPSWDQGPRUHWRROVDUHHPHUJLQJWKDWVFDQIRUWKHVHIODZV7KHFRQVHTXHQFHVDUHSDUWLFXODUO\
GDPDJLQJDVDQDWWDFNHUFDQREWDLQFRUUXSWRUGHVWUR\GDWDEDVHFRQWHQWV

&RPPDQGLQMHFWLRQDWWDFNVFDQEHYHU\HDV\WRGLVFRYHUDQGH[SORLWEXWWKH\FDQDOVREHH[WUHPHO\REVFXUH7KH
FRQVHTXHQFHVFDQDOVRUXQWKHHQWLUHUDQJHRIVHYHULW\IURPWULYLDOWRFRPSOHWHV\VWHPFRPSURPLVHRUGHVWUXFWLRQ,QDQ\
FDVHWKHXVHRIH[WHUQDOFDOOVLVTXLWHZLGHVSUHDGVRWKHOLNHOLKRRGRIDZHEDSSOLFDWLRQKDYLQJDFRPPDQGLQMHFWLRQIODZ
VKRXOGEHFRQVLGHUHGKLJK

$ (QYLURQPHQWV$IIHFWHG
(YHU\ZHEDSSOLFDWLRQHQYLURQPHQWDOORZVWKHH[HFXWLRQRIH[WHUQDOFRPPDQGVVXFKDVV\VWHPFDOOVVKHOOFRPPDQGVDQG
64/UHTXHVWV7KHVXVFHSWLELOLW\RIDQH[WHUQDOFDOOWRFRPPDQGLQMHFWLRQGHSHQGVRQKRZWKHFDOOLVPDGHDQGWKHVSHFLILF
FRPSRQHQWWKDWLVEHLQJFDOOHGEXWDOPRVWDOOH[WHUQDOFDOOVFDQEHDWWDFNHGLIWKHZHEDSSOLFDWLRQLVQRWSURSHUO\FRGHG

$ ([DPSOHVDQG5HIHUHQFHV
„ ([DPSOHV$PDOLFLRXVSDUDPHWHUFRXOGPRGLI\WKHDFWLRQVWDNHQE\DV\VWHPFDOOWKDWQRUPDOO\UHWULHYHVWKHFXUUHQW
XVHU¶VILOHWRDFFHVVDQRWKHUXVHU¶VILOH HJE\LQFOXGLQJSDWKWUDYHUVDO³´FKDUDFWHUVDVSDUWRIDILOHQDPH
UHTXHVW $GGLWLRQDOFRPPDQGVFRXOGEHWDFNHGRQWRWKHHQGRIDSDUDPHWHUWKDWLVSDVVHGWRDVKHOOVFULSWWR
H[HFXWHDQDGGLWLRQDOVKHOOFRPPDQG HJ³UP±U ´ DORQJZLWKWKHLQWHQGHGFRPPDQG64/TXHULHVFRXOGEH
PRGLILHGE\DGGLQJDGGLWLRQDOµFRQVWUDLQWV¶WRDZKHUHFODXVH HJ³25 ´ WRJDLQDFFHVVWRRUPRGLI\
XQDXWKRUL]HGGDWD
„ 2:$63GLVFXVVLRQRQ26&RPPDQG,QMHFWLRQKWWSZZZRZDVSRUJDVDFLQSXWBYDOLGDWLRQRVVKWPO
„ 2:$63GLVFXVVLRQRQ64/,QMHFWLRQKWWSZZZRZDVSRUJDVDFLQSXWBYDOLGDWLRQVTOVKWPO
„ 2:$63GLVFXVVLRQRQ0HWD&KDUDFWHUVKWWSZZZRZDVSRUJDVDFLQSXWBYDOLGDWLRQPHWDVKWPO
„ :KLWH3DSHURQ64/,QMHFWLRQKWWSZZZVSLG\QDPLFVFRPSDSHUV64/,QMHFWLRQ:KLWH3DSHUSGI

$ +RZWR'HWHUPLQH,I<RX$UH9XOQHUDEOH
7KHEHVWZD\WRGHWHUPLQHLI\RXDUHYXOQHUDEOHWRFRPPDQGLQMHFWLRQDWWDFNVLVWRVHDUFKWKHVRXUFHFRGHIRUDOOFDOOVWR
H[WHUQDOUHVRXUFHV HJV\VWHPH[HFIRUN5XQWLPHH[HF64/TXHULHVRUZKDWHYHUWKHV\QWD[LVIRUPDNLQJH[WHUQDO
UHTXHVWVLQ\RXUODQJXDJH 1RWHWKDWPDQ\ODQJXDJHVKDYHPXOWLSOHZD\VWRUXQH[WHUQDOFRPPDQGV'HYHORSHUVVKRXOG



 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  



UHYLHZWKHLUFRGHDQGVHDUFKIRUDOOSODFHVZKHUHLQSXWIURPDQ+773UHTXHVWFRXOGSRVVLEO\PDNHLWVZD\LQWRDQ\RIWKHVH
FDOOV<RXVKRXOGFDUHIXOO\H[DPLQHHDFKRIWKHVHFDOOVWREHVXUHWKDWWKHSURWHFWLRQVWHSVRXWOLQHGEHORZDUHIROORZHG

$ +RZWR3URWHFW<RXUVHOI
7KHVLPSOHVWZD\WRSURWHFWDJDLQVWFRPPDQGLQMHFWLRQLVWRDYRLGWKHPZKHUHSRVVLEOH)RUPDQ\VKHOOFRPPDQGVDQG
VRPHV\VWHPFDOOVWKHUHDUHODQJXDJHVSHFLILFOLEUDULHVWKDWSHUIRUPWKHVDPHIXQFWLRQV8VLQJVXFKOLEUDULHVGRHVQRW
LQYROYHWKHRSHUDWLQJV\VWHPVKHOOLQWHUSUHWHUDQGWKHUHIRUHDYRLGVDODUJHQXPEHURISUREOHPVZLWKVKHOOFRPPDQGV

)RUWKRVHFDOOVWKDW\RXPXVWVWLOOHPSOR\VXFKDVFDOOVWREDFNHQGGDWDEDVHV\RXPXVWFDUHIXOO\YDOLGDWHWKHGDWDSURYLGHG
WRHQVXUHWKDWLWGRHVQRWFRQWDLQDQ\PDOLFLRXVFRQWHQW<RXFDQDOVRVWUXFWXUHPDQ\UHTXHVWVLQDPDQQHUWKDWHQVXUHVWKDW
DOOVXSSOLHGSDUDPHWHUVDUHWUHDWHGDVGDWDUDWKHUWKDQSRWHQWLDOO\H[HFXWDEOHFRQWHQW0RVWV\VWHPFDOOVDQGWKHXVHRI
VWRUHGSURFHGXUHVRUSUHSDUHGVWDWHPHQWVZLOOSURYLGHVLJQLILFDQWSURWHFWLRQHQVXULQJWKDWVXSSOLHGLQSXWLVWUHDWHGDVGDWD
ZKLFKZLOOUHGXFHEXWQRWFRPSOHWHO\HOLPLQDWHWKHULVNLQYROYHGLQWKHVHH[WHUQDOFDOOV<RXVWLOOPXVWDOZD\VYDOLGDWHVXFK
LQSXWWRPDNHVXUHLWPHHWVWKHH[SHFWDWLRQVRIWKHDSSOLFDWLRQLQTXHVWLRQ

$QRWKHUVWURQJSURWHFWLRQDJDLQVWFRPPDQGLQMHFWLRQLVWRHQVXUHWKDWWKHZHEDSSOLFDWLRQUXQVZLWKRQO\WKHSULYLOHJHVLW
DEVROXWHO\QHHGVWRSHUIRUPLWVIXQFWLRQ6R\RXVKRXOGQRWUXQWKHZHEVHUYHUDVURRWRUDFFHVVDGDWDEDVHDV'%$'0,1RU
HOVHDQDWWDFNHUFDQDEXVHWKHVHDGPLQLVWUDWLYHSULYLOHJHVJUDQWHGWRWKHZHEDSSOLFDWLRQ6RPHRIWKH-((HQYLURQPHQWV
DOORZWKHXVHRIWKH-DYDVDQGER[ZKLFKFDQSUHYHQWWKHH[HFXWLRQRIV\VWHPFRPPDQGV

,IDQH[WHUQDOFRPPDQGPXVWEHXVHGDQ\XVHULQIRUPDWLRQWKDWLVEHLQJLQVHUWHGLQWRWKHFRPPDQGVKRXOGEHULJRURXVO\
FKHFNHG0HFKDQLVPVVKRXOGEHSXWLQSODFHWRKDQGOHDQ\SRVVLEOHHUURUVWLPHRXWVRUEORFNDJHVGXULQJWKHFDOO

$OORXWSXWUHWXUQFRGHVDQGHUURUFRGHVIURPWKHFDOOVKRXOGEHFKHFNHGWRHQVXUHWKDWWKHH[SHFWHGSURFHVVLQJDFWXDOO\
RFFXUUHG$WDPLQLPXPWKLVZLOODOORZ\RXWRGHWHUPLQHWKDWVRPHWKLQJKDVJRQHZURQJ2WKHUZLVHWKHDWWDFNPD\RFFXU
DQGQHYHUEHGHWHFWHG

7KH2:$63)LOWHUVSURMHFWLVSURGXFLQJUHXVDEOHFRPSRQHQWVLQVHYHUDOODQJXDJHVWRKHOSSUHYHQWPDQ\IRUPVRIFRPPDQG
LQMHFWLRQ2:$63KDVUHOHDVHG&RGH6HHNHUDQDSSOLFDWLRQOHYHOILUHZDOO



 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  




$ (UURU+DQGOLQJ3UREOHPV

$ 'HVFULSWLRQ
,PSURSHUKDQGOLQJRIHUURUVFDQLQWURGXFHDYDULHW\RIVHFXULW\SUREOHPVIRUDZHEVLWH7KHPRVWFRPPRQSUREOHPLVZKHQ
GHWDLOHGLQWHUQDOHUURUPHVVDJHVVXFKDVVWDFNWUDFHVGDWDEDVHGXPSVDQGHUURUFRGHVDUHGLVSOD\HGWRWKHXVHU KDFNHU 
7KHVHPHVVDJHVUHYHDOLPSOHPHQWDWLRQGHWDLOVWKDWVKRXOGQHYHUEHUHYHDOHG6XFKGHWDLOVFDQSURYLGHKDFNHUVLPSRUWDQW
FOXHVRQSRWHQWLDOIODZVLQWKHVLWHDQGVXFKPHVVDJHVDUHDOVRGLVWXUELQJWRQRUPDOXVHUV

:HEDSSOLFDWLRQVIUHTXHQWO\JHQHUDWHHUURUFRQGLWLRQVGXULQJQRUPDORSHUDWLRQ2XWRIPHPRU\QXOOSRLQWHUH[FHSWLRQV
V\VWHPFDOOIDLOXUHGDWDEDVHXQDYDLODEOHQHWZRUNWLPHRXWDQGKXQGUHGVRIRWKHUFRPPRQFRQGLWLRQVFDQFDXVHHUURUVWREH
JHQHUDWHG7KHVHHUURUVPXVWEHKDQGOHGDFFRUGLQJWRDZHOOWKRXJKWRXWVFKHPHWKDWZLOOSURYLGHDPHDQLQJIXOHUURU
PHVVDJHWRWKHXVHUGLDJQRVWLFLQIRUPDWLRQWRWKHVLWHPDLQWDLQHUVDQGQRXVHIXOLQIRUPDWLRQWRDQDWWDFNHU

(YHQZKHQHUURUPHVVDJHVGRQ¶WSURYLGHDORWRIGHWDLOLQFRQVLVWHQFLHVLQVXFKPHVVDJHVFDQVWLOOUHYHDOLPSRUWDQWFOXHVRQ
KRZDVLWHZRUNVDQGZKDWLQIRUPDWLRQLVSUHVHQWXQGHUWKHFRYHUV)RUH[DPSOHZKHQDXVHUWULHVWRDFFHVVDILOHWKDWGRHV
QRWH[LVWWKHHUURUPHVVDJHW\SLFDOO\LQGLFDWHV³ILOHQRWIRXQG´:KHQDFFHVVLQJDILOHWKDWWKHXVHULVQRWDXWKRUL]HGIRULW
LQGLFDWHV³DFFHVVGHQLHG´7KHXVHULVQRWVXSSRVHGWRNQRZWKHILOHHYHQH[LVWVEXWVXFKLQFRQVLVWHQFLHVZLOOUHDGLO\UHYHDO
WKHSUHVHQFHRUDEVHQFHRILQDFFHVVLEOHILOHVRUWKHVLWHV¶GLUHFWRU\VWUXFWXUH

2QHFRPPRQVHFXULW\SUREOHPFDXVHGE\LPSURSHUHUURUKDQGOLQJLVWKHIDLORSHQVHFXULW\FKHFN$OOVHFXULW\PHFKDQLVPV
VKRXOGGHQ\DFFHVVXQWLOVSHFLILFDOO\JUDQWHGQRWJUDQWDFFHVVXQWLOGHQLHGZKLFKLVDFRPPRQUHDVRQZK\IDLORSHQHUURUV
RFFXU2WKHUHUURUVFDQFDXVHWKHV\VWHPWRFUDVKRUFRQVXPHVLJQLILFDQWUHVRXUFHVHIIHFWLYHO\GHQ\LQJRUUHGXFLQJVHUYLFH
WROHJLWLPDWHXVHUV

*RRGHUURUKDQGOLQJPHFKDQLVPVVKRXOGEHDEOHWRKDQGOHDQ\IHDVLEOHVHWRILQSXWVZKLOHHQIRUFLQJSURSHUVHFXULW\6LPSOH
HUURUPHVVDJHVVKRXOGEHSURGXFHGDQGORJJHGVRWKDWWKHLUFDXVHZKHWKHUDQHUURULQWKHVLWHRUDKDFNLQJDWWHPSWFDQEH
UHYLHZHG(UURUKDQGOLQJVKRXOGQRWIRFXVVROHO\RQLQSXWSURYLGHGE\WKHXVHUEXWVKRXOGDOVRLQFOXGHDQ\HUURUVWKDWFDQEH
JHQHUDWHGE\LQWHUQDOFRPSRQHQWVVXFKDVV\VWHPFDOOVGDWDEDVHTXHULHVRUDQ\RWKHULQWHUQDOIXQFWLRQV

$ (QYLURQPHQWV$IIHFWHG
$OOZHEVHUYHUVDSSOLFDWLRQVHUYHUVDQGZHEDSSOLFDWLRQHQYLURQPHQWVDUHVXVFHSWLEOHWRHUURUKDQGOLQJSUREOHPV

$ ([DPSOHVDQG5HIHUHQFHV
„ 2:$63GLVFXVVLRQRQJHQHUDWLRQRIHUURUFRGHVKWWSZZZRZDVSRUJDVDFLQIRUPDWLRQDOHUURUVVKWPO

$ +RZWR'HWHUPLQH,I<RX$UH9XOQHUDEOH
7\SLFDOO\VLPSOHWHVWLQJFDQGHWHUPLQHKRZ\RXUVLWHUHVSRQGVWRYDULRXVNLQGVRILQSXWHUURUV0RUHWKRURXJKWHVWLQJLV
XVXDOO\UHTXLUHGWRFDXVHLQWHUQDOHUURUVWRRFFXUDQGVHHKRZWKHVLWHEHKDYHV

$QRWKHUYDOXDEOHDSSURDFKLVWRKDYHDGHWDLOHGFRGHUHYLHZWKDWVHDUFKHVWKHFRGHIRUWKHHUURUKDQGOLQJFRGH7KH
DSSURDFKVKRXOGEHFRQVLVWHQWDFURVVWKHHQWLUHVLWHDQGHDFKSLHFHVKRXOGEHDSDUWRIDZHOOGHVLJQHGVFKHPH$FRGH
UHYLHZZLOOUHYHDOKRZWKHV\VWHPLVLQWHQGHGWRKDQGOHYDULRXVW\SHVRIHUURUV,I\RXILQGWKDWWKHUHLVQRRUJDQL]DWLRQWRWKH
HUURUKDQGOLQJVFKHPHRUWKDWWKHUHDSSHDUWREHVHYHUDOGLIIHUHQWVFKHPHVWKHUHLVTXLWHOLNHO\DSUREOHP



 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  



$ +RZWR3URWHFW<RXUVHOI
$VSHFLILFSROLF\IRUKRZWRKDQGOHHUURUVVKRXOGEHGRFXPHQWHGLQFOXGLQJWKHW\SHVRIHUURUVWREHKDQGOHGDQGIRUHDFK
ZKDWLQIRUPDWLRQLVJRLQJWREHUHSRUWHGEDFNWRWKHXVHUDQGZKDWLQIRUPDWLRQLVJRLQJWREHORJJHG$OOGHYHORSHUVQHHGWR
XQGHUVWDQGWKHSROLF\DQGHQVXUHWKDWWKHLUFRGHIROORZVLW

,QWKHLPSOHPHQWDWLRQHQVXUHWKDWWKHVLWHLVEXLOWWRJUDFHIXOO\KDQGOHDOOSRVVLEOHHUURUV:KHQHUURUVRFFXUWKHVLWHVKRXOG
UHVSRQGZLWKDVSHFLILFDOO\GHVLJQHGUHVXOWWKDWLVKHOSIXOWRWKHXVHUZLWKRXWUHYHDOLQJXQQHFHVVDU\LQWHUQDOGHWDLOV&HUWDLQ
FODVVHVRIHUURUVVKRXOGEHORJJHGWRKHOSGHWHFWLPSOHPHQWDWLRQIODZVLQWKHVLWHDQGRUKDFNLQJDWWHPSWV

9HU\IHZVLWHVKDYHDQ\LQWUXVLRQGHWHFWLRQFDSDELOLWLHVLQWKHLUZHEDSSOLFDWLRQEXWLWLVFHUWDLQO\FRQFHLYDEOHWKDWDZHE
DSSOLFDWLRQFRXOGWUDFNUHSHDWHGIDLOHGDWWHPSWVDQGJHQHUDWHDOHUWV1RWHWKDWWKHYDVWPDMRULW\RIZHEDSSOLFDWLRQDWWDFNVDUH
QHYHUGHWHFWHGEHFDXVHVRIHZVLWHVKDYHWKHFDSDELOLW\WRGHWHFWWKHP7KHUHIRUHWKHSUHYDOHQFHRIZHEDSSOLFDWLRQVHFXULW\
DWWDFNVLVOLNHO\WREHVHULRXVO\XQGHUHVWLPDWHG

7KH2:$63)LOWHUVSURMHFWLVSURGXFLQJUHXVDEOHFRPSRQHQWVLQVHYHUDOODQJXDJHVWRKHOSSUHYHQWHUURUFRGHVOHDNLQJLQWR
XVHU¶VZHESDJHVE\ILOWHULQJSDJHVZKHQWKH\DUHFRQVWUXFWHGG\QDPLFDOO\E\WKHDSSOLFDWLRQ



 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  




$ ,QVHFXUH8VHRI&U\SWRJUDSK\

$ 'HVFULSWLRQ
0RVWZHEDSSOLFDWLRQVKDYHDQHHGWRVWRUHVHQVLWLYHLQIRUPDWLRQHLWKHULQDGDWDEDVHRURQDILOHV\VWHPVRPHZKHUH7KH
LQIRUPDWLRQPLJKWEHSDVVZRUGVFUHGLWFDUGQXPEHUVDFFRXQWUHFRUGVRUSURSULHWDU\LQIRUPDWLRQ)UHTXHQWO\HQFU\SWLRQ
WHFKQLTXHVDUHXVHGWRSURWHFWWKLVVHQVLWLYHLQIRUPDWLRQ:KLOHHQFU\SWLRQKDVEHFRPHUHODWLYHO\HDV\WRLPSOHPHQWDQGXVH
GHYHORSHUVVWLOOIUHTXHQWO\PDNHPLVWDNHVZKLOHLQWHJUDWLQJLWLQWRDZHEDSSOLFDWLRQ'HYHORSHUVPD\RYHUHVWLPDWHWKH
SURWHFWLRQJDLQHGE\XVLQJHQFU\SWLRQDQGQRWEHDVFDUHIXOLQVHFXULQJRWKHUDVSHFWVRIWKHVLWH$IHZDUHDVZKHUHPLVWDNHV
DUHFRPPRQO\PDGHLQFOXGH

„ ,QVHFXUHVWRUDJHRINH\VFHUWLILFDWHVDQGSDVVZRUGV
„ ,PSURSHUVWRUDJHRIVHFUHWVLQPHPRU\
„ 3RRUVRXUFHVRIUDQGRPQHVV
„ 3RRUFKRLFHRIDOJRULWKP
„ )DLOXUHWRHQFU\SWFULWLFDOGDWD
„ $WWHPSWLQJWRLQYHQWDQHZHQFU\SWLRQDOJRULWKP
„ )DLOXUHWRLQFOXGHVXSSRUWIRUHQFU\SWLRQNH\FKDQJHVDQGRWKHUUHTXLUHGPDLQWHQDQFHSURFHGXUHV

7KHLPSDFWRIWKHVHZHDNQHVVHVFDQEHGHYDVWDWLQJWRWKHVHFXULW\RIDZHEVLWH(QFU\SWLRQLVJHQHUDOO\XVHGWRSURWHFWD
VLWH¶VPRVWVHQVLWLYHDVVHWVZKLFKPD\EHWRWDOO\FRPSURPLVHGE\DZHDNQHVV

$ (QYLURQPHQWV$IIHFWHG
0RVWZHEDSSOLFDWLRQHQYLURQPHQWVLQFOXGHVRPHIRUPRIFU\SWRJUDSKLFVXSSRUW,QWKHUDUHFDVHWKDWVXFKVXSSRUWLVQRW
DOUHDG\DYDLODEOHWKHUHDUHDZLGHYDULHW\RIWKLUGSDUW\SURGXFWVWKDWFDQEHDGGHG2QO\ZHEVLWHVWKDWXVHHQFU\SWLRQWR
SURWHFWLQIRUPDWLRQLQVWRUDJHRUWUDQVLWDUHVXVFHSWLEOHWRWKHVHDWWDFNV1RWHWKDWWKLVVHFWLRQGRHVQRWFRYHUWKHXVHRI66/
ZKLFKLVFRYHUHGLQWKH³6HUYHU&RQILJXUDWLRQ´VHFWLRQ7KLVVHFWLRQGHDOVRQO\ZLWKSURJUDPPDWLFHQFU\SWLRQRIDSSOLFDWLRQ
OD\HUGDWD

$ ([DPSOHVDQG5HIHUHQFHV
„ 2:$63GLVFXVVLRQRQFRPPRQFU\SWRJUDSKLFIODZVKWWSZZZRZDVSRUJDVDFFU\SWRJUDSKLF
„ %UXFH6FKQHLHU³$SSOLHG&U\SWRJUDSK\´ HGLWLRQ-RKQ:LOH\ 6RQV
QG

$ +RZWR'HWHUPLQH,I<RX$UH9XOQHUDEOH
'LVFRYHULQJFU\SWRJUDSKLFIODZVZLWKRXWDFFHVVWRWKHVRXUFHFRGHFDQEHH[WUHPHO\WLPHFRQVXPLQJ+RZHYHULWLVSRVVLEOH
WRH[DPLQHWRNHQVVHVVLRQ,'VFRRNLHVDQGRWKHUFUHGHQWLDOVWRVHHLIWKH\DUHREYLRXVO\QRWUDQGRP$OOWKHWUDGLWLRQDO
FU\SWDQDO\VLVDSSURDFKHVFDQEHXVHGWRDWWHPSWWRXQFRYHUKRZDZHEVLWHLVXVLQJFU\SWRJUDSKLFIXQFWLRQV

%\IDUWKHHDVLHVWDSSURDFKLVWRUHYLHZWKHFRGHWRVHHKRZWKHFU\SWRJUDSKLFIXQFWLRQVDUHLPSOHPHQWHG$FDUHIXOUHYLHZRI
WKHVWUXFWXUHTXDOLW\DQGLPSOHPHQWDWLRQRIWKHFU\SWRJUDSKLFPRGXOHVVKRXOGEHSHUIRUPHG7KHUHYLHZHUVKRXOGKDYHD
VWURQJEDFNJURXQGLQWKHXVHRIFU\SWRJUDSK\DQGFRPPRQIODZV7KHUHYLHZVKRXOGDOVRFRYHUKRZNH\VSDVVZRUGVDQG
RWKHUVHFUHWVDUHVWRUHGORDGHGSURFHVVHGDQGFOHDUHGIURPPHPRU\



 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  



$ +RZWR3URWHFW<RXUVHOI
7KHHDVLHVWZD\WRSURWHFWDJDLQVWFU\SWRJUDSKLFIODZVLVWRPLQLPL]HWKHXVHRIHQFU\SWLRQDQGRQO\NHHSLQIRUPDWLRQWKDWLV
DEVROXWHO\QHFHVVDU\)RUH[DPSOHUDWKHUWKDQHQFU\SWLQJFUHGLWFDUGQXPEHUVDQGVWRULQJWKHPVLPSO\UHTXLUHXVHUVWRUH
HQWHUWKHQXPEHUV$OVRLQVWHDGRIVWRULQJHQFU\SWHGSDVVZRUGVXVHDRQHZD\IXQFWLRQVXFKDV6+$WRKDVKWKH
SDVVZRUGV

,IFU\SWRJUDSK\PXVWEHXVHGFKRRVHDOLEUDU\WKDWKDVEHHQH[SRVHGWRSXEOLFVFUXWLQ\DQGPDNHVXUHWKDWWKHUHDUHQR
RSHQYXOQHUDELOLWLHV(QFDSVXODWHWKHFU\SWRJUDSKLFIXQFWLRQVWKDWDUHXVHGDQGUHYLHZWKHFRGHFDUHIXOO\%HVXUHWKDW
VHFUHWVVXFKDVNH\VFHUWLILFDWHVDQGSDVVZRUGVDUHVWRUHGVHFXUHO\7RPDNHLWGLIILFXOWIRUDQDWWDFNHUWKHPDVWHUVHFUHW
VKRXOGEHVSOLWLQWRDWOHDVWWZRORFDWLRQVDQGDVVHPEOHGDWUXQWLPH6XFKORFDWLRQVPLJKWLQFOXGHDFRQILJXUDWLRQILOHDQ
H[WHUQDOVHUYHURUZLWKLQWKHFRGHLWVHOI



 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  




$ 5HPRWH$GPLQLVWUDWLRQ)ODZV

$ 'HVFULSWLRQ
$GPLQLVWUDWLYH,QWHUIDFHVSURYLGHSRZHUIXOIHDWXUHVIRUPDQDJLQJDZHEDSSOLFDWLRQ6XFKIHDWXUHVDUHIUHTXHQWO\XVHGWR
DOORZVLWHDGPLQLVWUDWRUVWRHIILFLHQWO\PDQDJHXVHUVGDWDDQGFRQWHQWRQWKHLUVLWH,QPDQ\LQVWDQFHVVLWHVVXSSRUWDYDULHW\
RIDGPLQLVWUDWLYHUROHVWRDOORZILQHUJUDQXODULW\RIVLWHDGPLQLVWUDWLRQ'XHWRWKHLUSRZHUWKHVHLQWHUIDFHVDUHIUHTXHQWO\SULPH
WDUJHWVIRUDWWDFNE\ERWKRXWVLGHUVDQGLQVLGHUV

&RPPRQSUREOHPVWKDWRFFXULQWKLVDUHDLQFOXGHODFNRIVWURQJDXWKHQWLFDWLRQDQGRUHQFU\SWLRQIRUZHEDFFHVVLEOH
LQWHUIDFHVLQDELOLW\WRNHHSOHVVHUDGPLQLVWUDWRUVUHVWULFWHGWRWKHLULQWHQGHGIXQFWLRQVIODZVLQWKHVHSDUDWLRQPHFKDQLVP
EHWZHHQXVHUVDQGDGPLQLVWUDWRUVDQGSURYLGLQJXQQHFHVVDULO\SRZHUIXODGPLQLVWUDWLYHIHDWXUHV

$ (QYLURQPHQWV$IIHFWHG
$OOZHEVHUYHUVDSSOLFDWLRQVHUYHUVDQGZHEDSSOLFDWLRQHQYLURQPHQWVWKDWSURYLGHDQDGPLQLVWUDWLYHLQWHUIDFH

$ ([DPSOHVDQG5HIHUHQFHV
„ KWWSZZZLQIRVHFXULW\PDJFRPMXQLQVHFXULW\VKWPO

$ +RZWR'HWHUPLQH,I<RX$UH9XOQHUDEOH
)LQGRXWKRZ\RXUZHEVLWHLVDGPLQLVWUDWHG<RXZDQWWRGLVFRYHUKRZFKDQJHVDUHPDGHWRZHESDJHVZKHUHWKH\DUH
WHVWHGDQGKRZWKH\DUHWUDQVSRUWHGWRWKHSURGXFWLRQVHUYHU,IDGPLQLVWUDWRUVFDQPDNHFKDQJHVUHPRWHO\\RXZDQWWR
NQRZKRZWKRVHFRPPXQLFDWLRQVDUHSURWHFWHG

&DUHIXOO\UHYLHZHDFKLQWHUIDFHWRPDNHVXUHWKDWRQO\DXWKRUL]HGDGPLQLVWUDWRUVDUHDOORZHGDFFHVV$OVRLIWKHUHDUH
GLIIHUHQWW\SHVRUJURXSLQJVRIGDWDWKDWFDQEHDFFHVVHGWKURXJKWKHLQWHUIDFHPDNHVXUHWKDWRQO\DXWKRUL]HGGDWDFDQEH
DFFHVVHGDVZHOO,IVXFKLQWHUIDFHVHPSOR\H[WHUQDOFRPPDQGVUHYLHZWKHLUXVHRIVXFKFRPPDQGVWRPDNHVXUHWKH\DUH
QRWVXEMHFWWRDQ\RIWKHFRPPDQGLQMHFWLRQIODZVGHVFULEHGLQWKLVSDSHU

6LQFHDXWKHQWLFDWLRQLVW\SLFDOO\WKHILUVWOLQHRIGHIHQVHIRUDFFHVVWRDGPLQLVWUDWLYHIXQFWLRQVUHYLHZWKHSDUWVRI\RXU
DXWKHQWLFDWLRQPHFKDQLVPIRUDGPLQLVWUDWRUVHYHQPRUHWKRURXJKO\

$ +RZWR3URWHFW<RXUVHOI
7KHSULPDU\UHFRPPHQGDWLRQLVWRQHYHUDOORZDGPLQLVWUDWRUDFFHVVWKURXJKWKHIURQWGRRULIDWDOOSRVVLEOH*LYHQWKHSRZHU
RIWKHVHLQWHUIDFHVPRVWRUJDQL]DWLRQVVKRXOGQRWDFFHSWWKHULVNRIPDNLQJWKHVHLQWHUIDFHVDYDLODEOH,IUHPRWHDGPLQLVWUDWRU
DFFHVVLVDEVROXWHO\UHTXLUHGWKLVFDQEHDFFRPSOLVKHGZLWKRXWRSHQLQJWKHIURQWGRRURIWKHVLWH7KHXVHRI931
WHFKQRORJ\FRXOGEHXVHGWRSURYLGHDQRXWVLGHDGPLQLVWUDWRUDFFHVVWRWKHLQWHUQDOFRPSDQ\ RUVLWH QHWZRUNIURPZKLFKDQ
DGPLQLVWUDWRUFDQDFFHVVWKHVLWHWKURXJKDSURWHFWHGEDFNHQGFRQQHFWLRQ

,IZHEEDVHGDFFHVVWRVXFKLQWHUIDFHVPXVWEHSURYLGHGWKHXVHRIVWURQJDXWKHQWLFDWLRQVXFKDVFHUWLILFDWHVWRNHQEDVHG
DXWKHQWLFDWRUVRURWKHUWHFKQRORJ\LVKLJKO\UHFRPPHQGHG6WURQJDXWKHQWLFDWLRQVKRXOGDOVREHFRQVLGHUHGIRUEDFNHQG
RQO\DFFHVVEXWWKHQHHGLVQRWDVJUHDW*LYHQWKHVPDOOQXPEHURIDGPLQLVWUDWRUVW\SLFDOO\UHTXLUHGIRUDVLWHWKHFRVWVRI
XVLQJVWURQJDXWKHQWLFDWLRQVKRXOGQRWEHSURKLELWLYHUHODWLYHWRWKHULVNRIFRPSURPLVHRIDGPLQLVWUDWLYHIXQFWLRQV

5HJDUGOHVVRIKRZDQDGPLQLVWUDWRUDFFHVVHVWKHVLWH WKURXJKWKHIURQWRUWKHEDFN WKHXVHRIHQFU\SWLRQ HJ931RU


66/ VKRXOGEHXVHGIRUWKHHQWLUHDGPLQLVWUDWLYHVHVVLRQ



 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  



2QFHVWURQJDGPLQLVWUDWRUDXWKHQWLFDWLRQDQGVHVVLRQSURWHFWLRQKDVEHHQFRQILUPHGWKHVSHFLILFUXOHVIRUZKLFK
DGPLQLVWUDWRUVFDQDFFHVVZKLFKLQWHUIDFHVQHHGWREHXQGHUVWRRG:HUHFRPPHQGWKDW\RXGRFXPHQWH[DFWO\ZKLFK
DGPLQLVWUDWRULQWHUIDFHVFDQEHDFFHVVHGE\ZKLFKDGPLQLVWUDWLYHUROHVDQGDQ\GDWDDFFHVVUXOHVLQ\RXUVLWHVHFXULW\SROLF\
(DFKDGPLQLVWUDWLYHLQWHUIDFHVKRXOGWKHQEHH[DPLQHGWRGHWHUPLQHWKDWLWLVSURWHFWHGLQDPDQQHUWKDWHQVXUHVFRPSOHWH
HQIRUFHPHQWRI\RXUGRFXPHQWHGVHFXULW\SROLF\<RXVKRXOGDOVRFRQVLGHUZKHWKHUDOOVXFKDGPLQLVWUDWLYHLQWHUIDFHVDUH
DEVROXWHO\QHFHVVDU\)UHTXHQWO\WKHUHPD\EHRWKHUZD\VRISHUIRUPLQJVLPLODUIXQFWLRQV HJYLDGLUHFWDFFHVVWRDQ
XQGHUO\LQJGDWDEDVH VRSURYLGLQJDZHEEDVHGDGPLQLVWUDWLYHIXQFWLRQPD\QRWEHDEVROXWHO\QHFHVVDU\7KHHOLPLQDWLRQRI
WKHVHLQWHUIDFHVFDQUHGXFHWKHRYHUDOOULVNWR\RXURUJDQL]DWLRQ

$VDQDGGLWLRQDOOD\HURIGHIHQVHLWLVUHFRPPHQGHGWKDWDGPLQLVWUDWLYHLQWHUIDFHVEHVHSDUDWHIURPLQWHUIDFHVSURYLGHGWR
QRUPDOXVHUV6XFKVHSDUDWLRQFDQVWRSFROGDQ\DWWHPSWVE\QRUPDOXVHUVWRUDLVHWKHLUSULYLOHJHVRUSLFNKROHVLQWKHDFFHVV
FRQWUROVFKHPHWKDWVHSDUDWHVQRUPDOXVHUVIURPDGPLQLVWUDWLYHIXQFWLRQV7KHVHVHSDUDWHGDSSOLFDWLRQVFDQEHUXQRQWKH
VDPHVHUYHUXVLQJGLIIHUHQWSRUWVRUHYHQEHWWHURQDFRPSOHWHO\GLIIHUHQWVHUYHU6HSDUDWLQJWKHLQWHUIDFHVLQWKLVPDQQHU
FDQPDNHLWPRUHGLIILFXOWIRUDQDWWDFNHUWRHYHQILQGWKHDGPLQLVWUDWLYHLQWHUIDFHVEXWWKLVLVQRWIRROSURRI'RQ¶WUHO\RQWKH
XVHRIQRQVWDQGDUGSRUWQXPEHUVRUVHSDUDWHVHUYHUVWRSURYLGHDQ\UHDODPRXQWRIVHFXULW\DVWKH\FDQEHHDVLO\VFDQQHG
IRUDQGIRXQG<RXPXVWVWLOOSURYLGHWKHSURWHFWLRQVUHFRPPHQGHGDERYH

2QFHWKHQRUPDOXVHUDQGDGPLQLVWUDWLYHLQWHUIDFHVDUHVHSDUDWHGDQRWKHUDGGLWLRQDOGHIHQVHFDQEHHPSOR\HGQHWZRUN
VHSDUDWLRQRU,3ILOWHULQJ,IDFFHVVWRWKHDGPLQLVWUDWLYHLQWHUIDFHLVRQO\WREHDOORZHGIURPLQVLGHWKHVLWHWKHQWKH
DGPLQLVWUDWLYHDSSOLFDWLRQFDQEHERXQGWRDVHSDUDWHQHWZRUNFDUGDQGWKHQHWZRUNFRQILJXUDWLRQFDQEHVHWWRRQO\DOORZ
DFFHVVIURPLQWHUQDO,3DGGUHVVHV,IWKHXVHUDQGDGPLQDSSOLFDWLRQVDUHUXQRIIWZRGLIIHUHQWSRUWVRQWKHVDPHFDUGVRXUFH
,3DGGUHVVFKHFNVFDQUHVWULFWZKLFKKRVWVFDQFRQQHFWWRWKHDGPLQDSSOLFDWLRQSRUW

$GRSWLQJWKHUHFRPPHQGDWLRQVDERYHVKRXOGVLJQLILFDQWO\UHGXFHWKHULVNWKDWDQ\DGPLQLVWUDWLYHLQWHUIDFHVDUHH[SRVHGWR
H[WHUQDODWWDFN8QIRUWXQDWHO\PDQ\DSSOLFDWLRQVWRGD\KDYHWKHLUXVHUDQGDGPLQLVWUDWLYHIXQFWLRQVEOHQGHGWRJHWKHULQWRD
VLQJOHDSSOLFDWLRQDQGQRH[WUDSUHFDXWLRQVDUHWDNHQWRVWURQJO\SURWHFWWKHDGPLQLVWUDWLYHDVSHFWVRIWKHDSSOLFDWLRQ



 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  




$ :HEDQG$SSOLFDWLRQ6HUYHU0LVFRQILJXUDWLRQ

$ 'HVFULSWLRQ
:HEVHUYHUDQGDSSOLFDWLRQVHUYHUFRQILJXUDWLRQVSOD\DNH\UROHLQWKHVHFXULW\RIDZHEDSSOLFDWLRQ7KHVHVHUYHUVDUH
UHVSRQVLEOHIRUVHUYLQJFRQWHQWDQGLQYRNLQJDSSOLFDWLRQVWKDWJHQHUDWHFRQWHQW,QDGGLWLRQPDQ\DSSOLFDWLRQVHUYHUVSURYLGH
DQXPEHURIVHUYLFHVWKDWZHEDSSOLFDWLRQVFDQXVHLQFOXGLQJGDWDVWRUDJHGLUHFWRU\VHUYLFHVPDLOPHVVDJLQJDQGPRUH

)UHTXHQWO\WKHZHEGHYHORSPHQWJURXSLVVHSDUDWHIURPWKHJURXSRSHUDWLQJWKHVLWH,QIDFWWKHUHLVRIWHQDZLGHJDS
EHWZHHQWKRVHZKRZULWHWKHDSSOLFDWLRQDQGWKRVHUHVSRQVLEOHIRUWKHRSHUDWLRQVHQYLURQPHQW:HEDSSOLFDWLRQVHFXULW\
FRQFHUQVRIWHQVSDQWKLVJDSDQGUHTXLUHPHPEHUVIURPERWKVLGHVRIWKHSURMHFW

7KHUHDUHDZLGHYDULHW\RIVHUYHUFRQILJXUDWLRQSUREOHPVWKDWFDQSODJXHDVLWH7KHVHLQFOXGH

„ 8QSDWFKHGVHFXULW\IODZVLQWKHVHUYHUVRIWZDUH
„ 6HUYHUVRIWZDUHIODZVRUPLVFRQILJXUDWLRQVWKDWSHUPLWGLUHFWRU\OLVWLQJDQGGLUHFWRU\WUDYHUVDODWWDFNV
„ 8QQHFHVVDU\GHIDXOWEDFNXSRUVDPSOHILOHVLQFOXGLQJVFULSWVDSSOLFDWLRQVFRQILJXUDWLRQILOHVDQGZHESDJHV
„ ,PSURSHUILOHDQGGLUHFWRU\SHUPLVVLRQV
„ 8QQHFHVVDU\VHUYLFHVHQDEOHGLQFOXGLQJFRQWHQWPDQDJHPHQWDQGUHPRWHDGPLQLVWUDWLRQ
„ 'HIDXOWDFFRXQWVZLWKWKHLUGHIDXOWSDVVZRUGV
„ $GPLQLVWUDWLYHRUGHEXJJLQJIXQFWLRQVWKDWDUHHQDEOHGRUDFFHVVLEOH
„ 2YHUO\LQIRUPDWLYHHUURUPHVVDJHV PRUHGHWDLOVLQWKHHUURUKDQGOLQJVHFWLRQ 
„ 0LVFRQILJXUHG66/FHUWLILFDWHVDQGHQFU\SWLRQVHWWLQJV
„ 8VHRIVHOIVLJQHGFHUWLILFDWHVWRDFKLHYHDXWKHQWLFDWLRQDQGPDQLQWKHPLGGOHSURWHFWLRQ
„ 8VHRIGHIDXOWFHUWLILFDWHV

0DQ\RIWKHVHSUREOHPVFDQEHGHWHFWHGZLWKUHDGLO\DYDLODEOHVHFXULW\VFDQQLQJWRROV2QFHGHWHFWHGWKHVHSUREOHPVFDQ
EHHDVLO\H[SORLWHGDQGUHVXOWLQWRWDOFRPSURPLVHRIDZHEVLWH6XFFHVVIXODWWDFNVFDQDOVRUHVXOWLQWKHFRPSURPLVHRI
EDFNHQGV\VWHPVLQFOXGLQJGDWDEDVHVDQGFRUSRUDWHQHWZRUNV+DYLQJVHFXUHVRIWZDUHDQGDVHFXUHFRQILJXUDWLRQDUHERWK
UHTXLUHGLQRUGHUWRKDYHDVHFXUHVLWH

$ (QYLURQPHQWV$IIHFWHG
$OOZHEVHUYHUVDSSOLFDWLRQVHUYHUVDQGZHEDSSOLFDWLRQHQYLURQPHQWVDUHVXVFHSWLEOHWRPLVFRQILJXUDWLRQ

$ ([DPSOHVDQG5HIHUHQFHV
„ 2:$63GLVFXVVLRQRQYHQGRUVHFXULW\SDWFKHVKWWSZZZRZDVSRUJDVDFFRQILJXUDWLRQSDWFKHVVKWPO
„ 2:$63GLVFXVVLRQRQGHIDXOWDFFRXQWVKWWSZZZRZDVSRUJDVDFFRQILJXUDWLRQDFFRXQWVVKWPO
„ :HE6HUYHU6HFXULW\%HVW3UDFWLFHVKWWSZZZSFPDJFRPDUWLFOHDVS
„ 6HFXULQJ3XEOLF:HE6HUYHUV IURP&(57 KWWSZZZFHUWRUJVHFXULW\LPSURYHPHQWPRGXOHVPKWPO
„ 0LFURVRIW,QWHUQHW,QIRUPDWLRQ6HUYHU6HFXULW\&KHFNOLVW
KWWSZZZPLFURVRIWFRPWHFKQHWWUHHYLHZGHIDXOWDVS"XUO WHFKQHWVHFXULW\WRROVFKNOLVWLLVFKNDVS
„ $WRROWRKHOSLPSOHPHQWWKH,,66HFXULW\&KHFNOLVWKWWSQWEXJWUDTQWDGYLFHFRPGHIDXOWDVS"SLG  GLG 



 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  



$ +RZWR'HWHUPLQH,I<RX$UH9XOQHUDEOH
,I\RXKDYHQRWPDGHDFRQFHUWHGHIIRUWWRORFNGRZQ\RXUZHEDQGDSSOLFDWLRQVHUYHUV\RXDUHPRVWOLNHO\YXOQHUDEOH)HZLI
DQ\VHUYHUSURGXFWVDUHVHFXUHRXWRIWKHER[7KHUHDUHDQXPEHURIVFDQQLQJSURGXFWVDYDLODEOHWKDWZLOOH[WHUQDOO\VFDQD
ZHERUDSSOLFDWLRQVHUYHUIRUNQRZQYXOQHUDELOLWLHVLQFOXGLQJ1HVVXVDQG1LNWR<RXVKRXOGUXQWKHVHWRROVRQDUHJXODU
EDVLVDWOHDVWPRQWKO\WRILQGSUREOHPVDVVRRQDVSRVVLEOH7KHWRROVVKRXOGEHUXQERWKLQWHUQDOO\DQGH[WHUQDOO\([WHUQDO
VFDQVVKRXOGEHUXQIURPDKRVWORFDWHGH[WHUQDOWRWKHVHUYHU¶VQHWZRUN,QWHUQDOVFDQVVKRXOGEHUXQIURPWKHVDPH
QHWZRUNDVWKHWDUJHWVHUYHUV

$ +RZWR3URWHFW<RXUVHOI
7KHILUVWVWHSLVWRFUHDWHDKDUGHQLQJJXLGHOLQHIRU\RXUSDUWLFXODUZHEVHUYHUDQGDSSOLFDWLRQVHUYHUFRQILJXUDWLRQ:H
UHFRPPHQGVWDUWLQJZLWKDQ\H[LVWLQJJXLGDQFH\RXFDQILQGIURP\RXUYHQGRURUWKRVHDYDLODEOHIURPWKHYDULRXVH[LVWLQJ
VHFXULW\RUJDQL]DWLRQVVXFKDV2:$63&(57DQG6$16DQGWKHQWDLORULQJWKHPIRU\RXUSDUWLFXODUQHHGV7KHKDUGHQLQJ
JXLGHOLQHVKRXOGLQFOXGHWKHIROORZLQJWRSLFVLQFOXGLQJ

„ &RQILJXULQJDOOVHFXULW\PHFKDQLVPV
„ 7XUQLQJRIIDOOXQXVHGVHUYLFHV
„ 6HWWLQJXSUROHVSHUPLVVLRQVDQGDFFRXQWV
„ /RJJLQJDQGDOHUWV

2QFH\RXUJXLGHOLQHKDVEHHQHVWDEOLVKHGXVHLWWRFRQILJXUHDQGPDLQWDLQ\RXUVHUYHUV,I\RXKDYHDODUJHQXPEHURI
VHUYHUVWRFRQILJXUHFRQVLGHUVHPLDXWRPDWLQJRUFRPSOHWHO\DXWRPDWLQJWKHFRQILJXUDWLRQSURFHVV8VHDQH[LVWLQJ
FRQILJXUDWLRQWRRORUGHYHORS\RXURZQ$QXPEHURIVXFKWRROVDOUHDG\H[LVW<RXFDQDOVRXVHGLVNUHSOLFDWLRQWRROVVXFKDV
*KRVWWRWDNHDQLPDJHRIDQH[LVWLQJKDUGHQHGVHUYHUDQGWKHQUHSOLFDWHWKDWLPDJHWRQHZVHUYHUV6XFKDSURFHVVPD\RU
PD\QRWZRUNIRU\RXJLYHQ\RXUSDUWLFXODUHQYLURQPHQW

.HHSLQJWKHVHUYHUFRQILJXUDWLRQVHFXUHUHTXLUHVYLJLODQFH<RXVKRXOGEHVXUHWKDWWKHUHVSRQVLELOLW\IRUNHHSLQJWKHVHUYHU
FRQILJXUDWLRQXSWRGDWHLVDVVLJQHGWRDQLQGLYLGXDORUWHDP7KHPDLQWHQDQFHSURFHVVVKRXOGLQFOXGH

„ 0RQLWRULQJWKHODWHVWVHFXULW\YXOQHUDELOLWLHVSXEOLVKHG
„ $SSO\LQJWKHODWHVWVHFXULW\SDWFKHV
„ 8SGDWLQJWKHVHFXULW\FRQILJXUDWLRQJXLGHOLQH
„ 5HJXODUYXOQHUDELOLW\VFDQQLQJIURPERWKLQWHUQDODQGH[WHUQDOSHUVSHFWLYHV
„ 5HJXODUVWDWXVUHSRUWVWRXSSHUPDQDJHPHQWGRFXPHQWLQJRYHUDOOVHFXULW\SRVWXUH

2:$63ZLOOEHUHOHDVLQJDVHULHVRIVHFXULW\FRQILJXUDWLRQJXLGHVIRU-DYDDSSOLFDWLRQVHUYHUVLQHDUO\



 
2:$637RS7HQ:HE$SSOLFDWLRQ6HFXULW\9XOQHUDELOLWLHV
  




&RQFOXVLRQV

2:$63KDVDVVHPEOHGWKLVOLVWWRUDLVHDZDUHQHVVDERXWZHEDSSOLFDWLRQVHFXULW\7KHH[SHUWVDW2:$63KDYHFRQFOXGHG
WKDWWKHVHYXOQHUDELOLWLHVUHSUHVHQWDVHULRXVULVNWRDJHQFLHVDQGFRPSDQLHVWKDWKDYHH[SRVHGWKHLUEXVLQHVVORJLFWRWKH
,QWHUQHW:HEDSSOLFDWLRQVHFXULW\SUREOHPVDUHDVVHULRXVDVQHWZRUNVHFXULW\SUREOHPVDOWKRXJKWKH\KDYHWUDGLWLRQDOO\
UHFHLYHGFRQVLGHUDEO\OHVVDWWHQWLRQ$WWDFNHUVKDYHEHJXQWRIRFXVRQZHEDSSOLFDWLRQVHFXULW\SUREOHPVDQGDUHDFWLYHO\
GHYHORSLQJWRROVDQGWHFKQLTXHVIRUGHWHFWLQJDQGH[SORLWLQJWKHP

7KLVWRSWHQOLVWLVDVWDUWLQJSRLQW:HEHOLHYHWKDWWKHVHIODZVUHSUHVHQWWKHPRVWVHULRXVULVNVWRZHEDSSOLFDWLRQVHFXULW\
EXWWKHUHDUHPDQ\RWKHUVHFXULW\FULWLFDODUHDVWKDWZHUHFRQVLGHUHGIRUWKHOLVWDQGDOVRUHSUHVHQWVLJQLILFDQWULVNWR
RUJDQL]DWLRQVGHSOR\LQJZHEDSSOLFDWLRQV7KHVHLQFOXGHIODZVLQWKHDUHDVRI

„ 8QQHFHVVDU\DQG0DOLFLRXV&RGH
„ %URNHQ7KUHDG6DIHW\DQG&RQFXUUHQW3URJUDPPLQJ
„ 'HQLDORI6HUYLFH
„ 8QDXWKRUL]HG,QIRUPDWLRQ*DWKHULQJ
„ $FFRXQWDELOLW\3UREOHPVDQG:HDN/RJJLQJ
„ 'DWD&RUUXSWLRQ
„ %URNHQ&DFKLQJ3RROLQJDQG5HXVH

:HZHOFRPH\RXUIHHGEDFNRQWKLV7RS7HQOLVW3OHDVHSDUWLFLSDWHLQWKH2:$63PDLOLQJOLVWVDQGKHOSWRLPSURYHZHE
DSSOLFDWLRQVHFXULW\9LVLWKWWSZZZRZDVSRUJWRJHWVWDUWHG



 

You might also like