6HULHV
Serie 34
Série 34
6LQJOH &RQWURO .LWFKHQ )DXFHW
*ULIR PRQRPDQGR SDUD OD FRFLQD
0LWLJHXU GH &XLVLQH
3ULFH 3¿VWHU
/LIHWLPH /LPLWHG 0HFKDQLFDO
3¿QLVK :DUUDQW\
&RYHUV 3¿QLVK DQG 3IXQFWLRQ IRU DV /RQJ DV <RX
2ZQ <RXU +RPH
&RPPHUFLDO $SSOLFDWLRQV /LPLW WKH 'XUDWLRQ RI WKH
:DUUDQWLHV DV 3URYLGHG %HORZ
3ULFH 3¿VWHU SURYLGHV WKH IROORZLQJ :DUUDQWLHV IRU LWV SURGXFWV 3URRI
RI 3XUFKDVH PD\ EH UHTXLUHG LQ RUGHU WR REWDLQ DQ\ RI WKH EHQH¿WV VHW
IRUWK EHORZ
/LPLWHG :DUUDQWLHV 3ULFH 3¿VWHU ZDUUDQWV WKDW IRU DV ORQJ DV WKH RULJLQDO
SXUFKDVHU RZQV WKH KRPH LQ ZKLFK WKH 3ULFH 3¿VWHU SURGXFW WKH ³3URGXFW´
LV RULJLQDOO\ LQVWDOOHG WKH 3URGXFW ZLOO EH IUHH RI DOO GHIHFWV LQ PDWHULDO
DQG ZRUNPDQVKLS WKDW ZRXOG LPSDLU WKH LQWHQGHG DQG SURSHU XVH RI WKH
3URGXFW ,I WKH 3URGXFW LV LQVWDOOHG LQ D FRPPHUFLDO DSSOLFDWLRQ WKH DERYH
PHFKDQLFDO ZDUUDQW\ VKDOO EH OLPLWHG IRU D SHULRG RI WHQ \HDUV IURP WKH
GDWH RI SXUFKDVH RI WKH 3URGXFW
3ULFH 3¿VWHU ZDUUDQWV DJDLQVW GHWHULRUDWLRQ RI WKH 3URGXFW¶V ¿QLVK IRU DV ORQJ
DV WKH RULJLQDO SXUFKDVHU RZQV WKH KRPH LQ ZKLFK WKH 3URGXFW LV RULJLQDOO\
LQVWDOOHG ,I WKH 3URGXFW LV LQVWDOOHG LQ D FRPPHUFLDO DSSOLFDWLRQ WKH DERYH
¿QLVK ZDUUDQW\ IRU 3URGXFWV WKDW GR QRW FRQWDLQ WKH 3IRUHYHU ¿QLVK VKDOO EH
OLPLWHG WR D SHULRG RI ¿YH \HDUV IURP WKH GDWH RI SXUFKDVH
([FOXVLYH 5HPHG\ ,Q WKH HYHQW RI DQ\ GHIHFW LQ WKH 3URGXFW WKDW EUHDFKHV
WKH IRUHJRLQJ ZDUUDQWLHV 3ULFH 3¿VWHU DW LWV RSWLRQ ZLOO UHSDLU RU UHSODFH
WKH GHIHFWLYH SDUW RI WKH 3URGXFW 5HSDLU RU UHSODFHPHQW RI WKH 3URGXFW LV
WKH H[FOXVLYH UHPHG\
)RU DQ\ UHPHG\ XQGHU WKLV ZDUUDQW\ 3ULFH 3¿VWHU LV WR EH QRWL¿HG GHVFULELQJ
WKH SUREOHP ,Q RUGHU WR QRWLI\ 3ULFH 3¿VWHU DQG UHFHLYH DVVLVWDQFH RU VHUYLFH
XQGHU WKLV ZDUUDQW\ WKH RULJLQDO SXUFKDVHU PD\ FDOO 3IDXFHW
IRU D FRQVXPHU VHUYLFH UHSUHVHQWDWLYH ZKR FDQ DVVLVW
\RX RU ZULWH FRQVXPHU VHUYLFH GHSDUWPHQW FR 3ULFH 3¿VWHU ,QF
'D9LQFL /DNH )RUHVW &$ DQG LQFOXGH D GHVFULSWLRQ RI WKH SUREOHP
PRGHO QXPEHU \RXU QDPH DGGUHVV SKRQH QXPEHU DQG DSSUR[LPDWH GDWH
RI SXUFKDVH RU HPDLO 3ULFH 3¿VWHU¶V FXVWRPHU VHUYLFH GHSDUWPHQW E\
JRLQJ WR ZZZ3ULFH3¿VWHUFRP RU QRWLI\ WKH ORFDWLRQ RU GLVWULEXWRU
IURP ZKLFK WKH 3URGXFW ZDV SXUFKDVHG ,Q DQ\ FDVH \RX PD\ EH UHTXLUHG
WR UHWXUQ WKH 3URGXFW WR 3ULFH 3¿VWHU IRU LQVSHFWLRQ DQG SURRI RI SXUFKDVH
PD\ EH UHTXLUHG
/LPLWDWLRQV DQG ([FOXVLRQV
35,&( 3),67(5 :,// 127 %( /,$%/( )25 $1< 27+(5 '$0$*(6
25 /266(6 ,1&/8',1* %87 127 /,0,7(' 72 ,1&,'(17$/
$1'25 &216(48(17,$/ '$0$*(6 5(*$5'/(66 2) 7+(
/(*$/ 7+(25<$66(57(' ,1&/8',1* $1< &/$,0 25 %5($&+
2) :$55$17< +(5(81'(5 25 $1< 27+(5 &$86( $1'
:+(7+(5 $5,6,1* ,1 &2175$&7 25 ,1 7257 LQFOXGLQJ QHJOLJHQFH
DQG VWULFW OLDELOLW\
3ULFH 3¿VWHU KDV WKH ULJKW WR GLVFRQWLQXH RU PRGLI\ DQ\ SURGXFW DW DQ\
WLPH 6RPH VWDWHV GR QRW DOORZ OLPLWDWLRQV RU H[FOXVLRQV RI LQFLGHQWDO RU
FRQVHTXHQWLDO GDPDJHV VR WKH DERYH OLPLWDWLRQV RU H[FOXVLRQV PD\ QRW
DSSO\ WR \RX 7KLV ZDUUDQW\ JLYHV \RX VSHFL¿F OHJDO ULJKWV DQG \RX PD\
DOVR KDYH RWKHU ULJKWV ZKLFK YDU\ IURP VWDWH WR VWDWH
7KH DERYH ZDUUDQWLHV GR QRW FRYHU GDPDJH UHVXOWLQJ IURP LPSURSHU
PDLQWHQDQFH UHSDLU FOHDQLQJ RU LQVWDOODWLRQ PLVXVH DEXVH DOWHUDWLRQV
DFFLGHQWV RU DFWV RI *RG
10-08-09 EO7399B
Copyright
©
3ULFH 3¿VWHU ,QF
3ULFH 3¿VWHU
*DUDQWtD 0HFiQLFD \ VREUH HO $FDEDGR /LPLWDGD GH SRU 9LGD
&XEUH ODV IXQFLRQHV \ HO DFDEDGR SRU HO WLHPSR HQ TXH XVWHG VHD
SURSLHWDULR GH VX FDVD
/DV $SOLFDFLRQHV &RPHUFLDOHV /LPLWDQ OD 'XUDFLyQ
GH ODV *DUDQWtDV
3ULFH 3¿VWHU VXPLQLVWUD ODV VLJXLHQWHV *DUDQWtDV SDUD VXV SURGXFWRV (V
SRVLEOH TXH VH UHTXLHUD OD SUHVHQWDFLyQ GH XQD 3UXHED GH FRPSUD SDUD REWHQHU
FXDOTXLHUD GH ORV EHQH¿FLRV LQGLFDGRV D FRQWLQXDFLyQ
*DUDQWtDV /LPLWDGDV 3ULFH 3¿VWHU JDUDQWL]D TXH SRU HO WLHPSR HQ TXH HO
FRPSUDGRU RULJLQDO VHD SURSLHWDULR GH OD FDVD HQ HO TXH VH KXELHVH LQVWDODGR
LQLFLDOPHQWH HO SURGXFWR 3ULFH 3¿VWHU HO ³3URGXFWR´ HVWH 3URGXFWR HVWDUi
OLEUH GH WRGR GHIHFWR HQ PDWHULDO \ PDQR GH REUD TXH SXHGD DIHFWDU HO
XVR SUR\HFWDGR \ FRUUHFWR GHO 3URGXFWR 6L HO 3URGXFWR VH LQVWDOD HQ XQD
DSOLFDFLyQ FRPHUFLDO OD JDUDQWtD PHFiQLFD TXH DQWHFHGH HVWDUi OLPLWDGD D XQ
SHUtRGR GH GLH] DxRV D SDUWLU GH OD IHFKD GH FRPSUD GHO 3URGXFWR
3ULFH 3¿VWHU JDUDQWL]D HO DFDEDGR GHO 3URGXFWR FRQWUD GHWHULRUR SRU HO
WLHPSR HQ TXH HO FRPSUDGRU RULJLQDO VHD SURSLHWDULR GH OD FDVD HQ OD TXH
KXELHVH LQVWDODGR LQLFLDOPHQWH HO 3URGXFWR 6L HO 3URGXFWR VH LQVWDOD HQ
XQD DSOLFDFLyQ FRPHUFLDO OD JDUDQWtD VREUH HO DFDEDGR TXH SUHFHGH SDUD
3URGXFWRV TXH QR FRQWHQJDQ HO DFDEDGR ³3IRUHYHU´ HVWDUi OLPLWDGD D XQ
SHULRGR GH FLQFR DxRV D SDUWLU GH OD IHFKD GH FRPSUD
5HFXUVR H[FOXVLYR (Q HO FDVR GH TXH KD\D XQ GHIHFWR HQ HO 3URGXFWR
TXH YLROH ODV JDUDQWtDV TXH SUHFHGHQ 3ULFH 3¿VWHU D VX RSFLyQ UHSDUDUi R
UHHPSOD]DUi OD SLH]D GHIHFWXRVD GHO 3URGXFWR /D UHSDUDFLyQ R HO UHHPSOD]R
GHO 3URGXFWR HV HO UHFXUVR H[FOXVLYR
3DUD WRGR UHFXUVR FRQ UHVSHFWR D HVWD JDUDQWtD 3ULFH 3¿VWHU GHEHUi VHU
QRWL¿FDGR FRQ XQD GHVFULSFLyQ GHO SUREOHPD 3DUD QRWL¿FDU D 3ULFH 3¿VWHU \
UHFLELU D\XGD R VHUYLFLR EDMR HVWD JDUDQWtD HO FRPSUDGRU RULJLQDO SXHGH
OODPDU DO 3IDXFHW SDUD KDEODU FRQ XQ UHSUHVHQWDQWH
GH VHUYLFLR DO FOLHQWH TXH OR SXHGD D\XGDU R HVFULELU DO GHSDUWDPHQWR GH
VHUYLFLR DO FRQVXPLGRU FR 3ULFH 3¿VWHU ,QF 'D9LQFL /DNH )RUHVW
&$ 86$ H LQFOXLU XQD GHVFULSFLyQ GHO SUREOHPD HO Q~PHUR GHO
PRGHOR VX QRPEUH GLUHFFLyQ Q~PHUR GH WHOpIRQR \ IHFKD DSUR[LPDGD GH
FRPSUD R HQYLDU XQ HPDLO DO GHSDUWDPHQWR GH VHUYLFLR DO FRQVXPLGRU
GH 3ULFH 3¿VWHU HQWUDQGR HQ OD SiJLQD ZHE ZZZ3ULFH3¿VWHUFRP R
DYLVDUOH DO OXJDU R DO GLVWULEXLGRU HQ GRQGH VH FRPSUy HO 3URGXFWR (Q
FXDOHVTXLHUD GH ORV FDVRV SRGUtD SHGtUVHOH GHYROYHU HO 3URGXFWR D 3ULFH
3¿VWHU SDUD VX LQVSHFFLyQ \ HV SRVLEOH TXH VH UHTXLHUD OD SUHVHQWDFLyQ GH
XQD SUXHED GH FRPSUD
/LPLWDFLRQHV \ ([FOXVLRQHV
35,&( 3),67(5 12 6( +$5È 5(63216$%/( '( 1,1*Ò1 2752 '$f2
2 3(5-8,&,2 ,1&/8<(1'2 3(52 6,1 (67$5 /,0,7$'2 $ '$f26
,1&,'(17$/(6 <2 &216(&8(17(6 6,1 ,03257$5 /$ 7(25Ë$ /(*$/
$ /$ 48( 6( $/(*8( ,1&/8<(1'2 72'2 5(&/$02 2 9,2/$&,Ï1 '(
/$ *$5$17Ë$ 35(6(17( 2 &8$/48,(5 275$ &$86$ < <$ 6($1 &202
5(68/7$'2 '( /$ /(< &2175$&78$/ 2 /$ '( $17(&('(17(6
LQFOX\HQGR QHJOLJHQFLD \ UHVSRQVDELOLGDG HVWULFWD
3ULFH 3¿VWHU WLHQH HO GHUHFKR GH GLVFRQWLQXDU R PRGL¿FDU FXDOTXLHU SURGXFWR
HQ FXDOTXLHU PRPHQWR &LHUWRV HVWDGRV QR SHUPLWHQ OLPLWDFLRQHV R
H[FOXVLRQHV GH GDxRV LQFLGHQWDOHV R FRQVHFXHQWHV GH PDQHUD TXH HV SRVLEOH
TXH ODV OLPLWDFLRQHV R H[FOXVLRQHV TXH SUHFHGHQ QR FRUUHVSRQGDQ HQ VX FDVR
(VWD JDUDQWtD OH RWRUJD GHUHFKRV OHJDOHV HVSHFt¿FRV \ HV SRVLEOH TXH XVWHG
WDPELpQ WHQJD RWURV GHUHFKRV TXH GL¿HUHQ HQWUH XQ HVWDGR \ RWUR
/DV JDUDQWtDV TXH SUHFHGHQ QR FXEUHQ GDxRV \ SHUMXLFLRV RFDVLRQDGRV
FRPR UHVXOWDGR GH PDQWHQLPLHQWR UHSDUDFLRQHV OLPSLH]D R LQVWDODFLyQ
LQDGHFXDGRV PDO XVR DEXVR DOWHUDFLRQHV DFFLGHQWHV R FDXVDV GH IXHU]D
PD\RU
3ULFH 3¿VWHU
8QH JDUDQWLH OLPLWpH j YLH
SRXU FH TXL HVW GH O¶DVSHFW PpFDQLTXH HW GH OD ¿QLWLRQ
WDQW HW DXVVL ORQJWHPSV TXH YRXV VHUH] SURSULpWDLUH
GH YRWUH GRPLFLOH
*DUDQWLH OLPLWpH HQ FDV G¶XWLOLVDWLRQ FRPPHUFLDOH
± YRLU FLGHVVRXV
9HXLOOH] QRWHU TX¶XQH SUHXYH G¶DFKDW SHXW rWUH UHTXLVH HQ FDV GH UHFRXUV
DX WLWUH GH OD JDUDQWLH
*DUDQWLH OLPLWpH 7DQW HW DXVVL ORQJWHPSV TXH O¶DFKHWHXU VHUD SURSULpWDLUH
GX GRPLFLOH GDQV OHTXHO OH SURGXLW 3ULFH 3¿VWHU D pWp LQVWDOOp QRXV OXL
JDUDQWLVVRQV TXH FH GHUQLHU VHUD H[HPSW GH WRXW GpIDXW GH PDWpULDX RX
YLFH GH IDEULFDWLRQ SRXYDQW HQ HQWUDYHU O¶XWLOLVDWLRQ FRUUHFWH WHO TXH SUpYX
'DQV OH FDV GHV SURGXLWV G¶XWLOLVDWLRQ FRPPHUFLDOH OD JDUDQWLH H[SULPpH
FLGHVVXV HVW UHVWUHLQWH j XQH SpULRGH GH GL[ DQV
3DU DLOOHXUV WDQW HW DXVVL ORQJWHPSV TXH O¶DFKHWHXU VHUD SURSULpWDLUH
GX GRPLFLOH GDQV OHTXHO OH SURGXLW 3ULFH 3¿VWHU D pWp LQVWDOOp QRXV OXL
JDUDQWLVVRQV XQ DUWLFOH GRQW OD ¿QLWLRQ QH SRXUUD VH GpWpULRUHU 'DQV OH FDV
GHV SURGXLWV G¶XWLOLVDWLRQ FRPPHUFLDOH TXL QH FRPSRUWHQW SDV OD ¿QLWLRQ
³3IRUHYHU´ OD JDUDQWLH HVW UHVWUHLQWH j XQH SpULRGH GH FLQT DQV
5HFRXUV H[FOXVLI (Q FDV GH GpIDXW GX SURGXLW UHOHYDQW GH OD JDUDQWLH
OH IDEULFDQW SRXUUD j VD GLVFUpWLRQ UpSDUHU RX UHPSODFHU OD SDUWLH
GpIHFWXHXVH &HWWH PHVXUH FRQVWLWXH XQ UHFRXUV H[FOXVLI
3RXU WRXW UHFRXUV DX WLWUH GH OD JDUDQWLH OHV FOLHQWV GRLYHQW FRPPXQLTXHU
DYHF OH IDEULFDQW SRXU OXL IDLUH SDUW GX SUREOqPH /¶DFKHWHXU G¶RULJLQH
SHXW FRPSRVHU OH SRXU SDUOHU j XQ UHSUpVHQWDQW TXL
O¶DVVLVWHUD pFULUH DX VHUYLFH j OD FOLHQWqOH 3ULFH 3¿VWHU ,QF
'D9LQFL /DNH )RUHVW &$ 86$ HW IRXUQLU XQH H[SOLFDWLRQ GX
SUREOqPH HQ SUpFLVDQW OH QXPpUR GH PRGqOH VRQ QRP VRQ DGUHVVH HW
VRQ QXPpUR GH WpOpSKRQH DLQVL TXH OD GDWH G¶DFKDW DSSUR[LPDWLYH
FRPPXQLTXHU SDU FRXUULHU pOHFWURQLTXH DYHF OH VHUYLFH j OD FOLHQWqOH HQ
XWLOLVDQW OH VLWH ZZZ3ULFH3¿VWHUFRP RX DYLVHU OH GpWDLOODQW TXL D
YHQGX OH SURGXLW 2Q SHXW rWUH REOLJp GH UHWRXUQHU OH SURGXLW DX IDEULFDQW
HW XQH SUHXYH G¶DFKDW SHXW rWUH H[LJpH
/LPLWDWLRQV HW H[FOXVLRQV
35,&( 3),67(5 1( 6(5$ 3$6 5(63216$%/( '(6 $875(6
'200$*(6 28 3(57(6 < &2035,6 /(6 '200$*(6
,1',5(&76 ,1'e3(1'$00(17 '( 7287( 7+e25,( -85,',48(
< &2035,6 7287( 5e&/$0$7,21 6(/21 /$48(//( ,/
< $85$,7 (8 583785( '( *$5$17,( 48( &( 62,7 3$5
5$33257 ¬ 81 &2175$7 28 3$5 92,( '( 1e*/,*(1&( FHOD
FRPSUHQG OD QpJOLJHQFH HW OD UHVSRQVDELOLWp VWULFWH
3ULFH 3¿VWHU VH UpVHUYH OH GURLW GH GLVFRQWLQXHU RX GH PRGL¿HU XQ SURGXLW
HQ WRXW WHPSV &HUWDLQHV SURYLQFHV QH SHUPHWWHQW SDV O¶H[FOXVLRQ RX OD
OLPLWDWLRQ GHV GRPPDJHV LQGLUHFWV GH VRUWH TXH OD OLPLWDWLRQ H[SULPpH
SHXW QH SDV V¶DSSOLTXHU /D SUpVHQWH JDUDQWLH RFWURLH DX[ FOLHQWV FHUWDLQV
GURLWV G¶RUGUH MXULGLTXH HW FHX[FL SRXUUDLHQW HQ DYRLU G¶DXWUHV VHORQ OD
SURYLQFH R LOV KDELWHQW
/D JDUDQWLH QH V¶DSSOLTXH SDV DX[ GRPPDJHV UpVXOWDQW G¶XQ HQWUHWLHQ
G¶XQ QHWWR\DJH RX G¶XQH LQVWDOODWLRQ IDXWLYHPHQW HIIHFWXpV RX HQFRUH
G¶XVDJHV IDXWLIV G
DEXV GH PRGL¿FDWLRQV G
DFFLGHQWV RX GH FDWDVWURSKHV
QDWXUHOOHV
A
28588-0500
COMPANY