Manual de instrucciones PHILIPS 227E3LPHSU

[. . . ] (/ ZZZSKLOLSVFRPZHOFRPH (6 0DQXDO GH XVXDULR $WHQFLÚQ DO FOLHQWH \ JDUDQWÕD 5HVROXFLÚQ GH SUREOHPDV \ SUHJXQWDV PËV IUHFXHQWHV ¹QGLFH , PSRUWDQWH 3UHFDXFLRQHV GH VHJXULGDG \ PDQWHQLPLHQWR 'HVFULSFLÚQ GH ORV VÕPERORV (OLPLQDFLÚQ GHO SURGXFWR \ HO PDWHULDO GH HPEDODMH &RQILJXUDFLÚQ GHO PRQLWRU , QVWDODFLÚQ 8VR GHO PRQLWRU 4XLWDU HO VRSRUWH GH OD EDVH \ OD EDVH 2SWLPL]DFLÚQ GH OD LPDJHQ 6PDUW, PDJH /LWH 6PDUW&RQWUDVW 3KLOLSV 6PDUW&RQWURO /LWH 3RZHU6HQVRU¬ (VSHFLILFDFLRQHV WÑFQLFDV 5HVROXFLÚQ \ PRGRV SUHGHWHUPLQDGRV $GPLQLVWUDFLÚQ HQHUJÕD , QIRUPDFLÚQ DGPLQLVWUDWLYD $WHQFLÚQ DO FOLHQWH \ JDUDQWÕD 3ROÕWLFD GH 3KLOLSV VREUH GHIHFWRV DVRFLDGRV D SÕ[HOHV HQ PRQLWRUHV GH SDQHO SODQR $WHQFLÚQ DO FOLHQWH \ JDUDQWÕD 5HVROXFLÚQ GH SUREOHPDV \ SUHJXQWDV PËV IUHFXHQWHV 5HVROXFLÚQ GH SUREOHPDV 3UHJXQWDV PËV IUHFXHQWHV VREUH 6PDUW&RQWURO /LWH 3UHJXQWDV PËV IUHFXHQWHV GH FDUËFWHU JHQHUDO , PSRUWDQWH , PSRUWDQWH (VWD JXÕD HOHFWUÚQLFD GHO XVXDULR HVWË GHVWLQDGD D FXDOTXLHU SHUVRQD TXH XWLOLFH HO PRQLWRU 3KLOLSV 7ÚPHVH VX WLHPSR \ OHD HVWH PDQXDO GH XVXDULR DQWHV GH XWLOL]DU HO PRQLWRU &RQWLHQH LQIRUPDFLÚQ \ QRWDV LPSRUWDQWHV UHODFLRQDGDV FRQ HO XVR GHO PRQLWRU /D JDUDQWÕD GH 3KLOLSV VH FRQVLGHUDUË YËOLGD VLHPSUH \ FXDQGR HO SURGXFWR VH PDQLSXOH GHELGDPHQWH \ FRQIRUPH DO XVR SUHYLVWR VH UHVSHWHQ VXV LQVWUXFFLRQHV GH IXQFLRQDPLHQWR \ VH SUHVHQWH OD IDFWXUD RULJLQDO R HO UHFLER GH FDMD HQ ORV TXH GHEHUËQ ILJXUDU OD IHFKD GH FRPSUD HO QRPEUH GHO HVWDEOHFLPLHQWR HO PRGHOR GHO HTXLSR \ VX QàPHUR GH VHULH HO FDEOH FRUUHVSRQGLHQWH SDUD YROYHU D XWLOL]DUOR 8WLOLFH VLHPSUH HO FDEOH GH DOLPHQWDFLÚQ KRPRORJDGR IDFLOLWDGR SRU 3KLOLSV 6L QR GLVSRQH GH ÑO SÚQJDVH HQ FRQWDFWR FRQ VX FHQWUR GH DVLVWHQFLD ORFDO &RQVXOWH FRQ HO &HQWUR GH LQIRUPDFLÚQ DO FRQVXPLGRU GHO 6HUYLFLR GH DWHQFLÚQ DO FOLHQWH 1R VRPHWD HO PRQLWRU D YLEUDFLRQHV LQWHQVDV QL LPSDFWRV IXHUWHV GXUDQWH VX IXQFLRQDPLHQWR (YLWH TXH HO PRQLWRU VXIUD JROSHV R FDÕGDV GXUDQWH VX IXQFLRQDPLHQWR R WUDQVSRUWH 3UHFDXFLRQHV GH VHJXULGDG \ PDQWHQLPLHQWR $GYHUWHQFLDV (O XVR GH FRQWUROHV DMXVWHV R SURFHGLPLHQWRV GLVWLQWRV D ORV GHVFULWRV HQ HVWD GRFXPHQWDFLÚQ SXHGH GDU OXJDU D ULHVJRV GH GHVFDUJD HOÑFWULFD \ RWURV SHOLJURV GH FDUËFWHU HOÑFWULFR \R PHFËQLFR /HD \ VLJD HVWDV LQVWUXFFLRQHV DO FRQHFWDU \ XVDU HO PRQLWRU LQIRUPËWLFR 8VR 1R H[SRQJD HO PRQLWRU D OD OX] VRODU GLUHFWD \ PDQWÑQJDOR DOHMDGR GH UDGLDGRUHV \ IXHQWHV GH FDORU $OHMH ORV REMHWRV TXH SXGLHUDQ SHQHWUDU D WUDYÑV GH ORV RULILFLRV GH YHQWLODFLÚQ R LPSHGLU OD FRUUHFWD UHIULJHUDFLÚQ GH ORV FRPSRQHQWHV HOHFWUÚQLFRV GHO PRQLWRU 1R REVWUX\D ORV RULILFLRV GH YHQWLODFLÚQ GH OD FDUFDVD &XDQGR LQVWDOH HO PRQLWRU DVHJàUHVH GH TXH HO FRQHFWRU \ OD WRPD GH VXPLQLVWUR HOÑFWULFR VHDQ IËFLOPHQWH DFFHVLEOHV 6L DSDJD HO PRQLWRU \ GHVFRQHFWD HO FDEOH GH DOLPHQWDFLÚQ R HO GHO DGDSWDGRU '& HVSHUH VHJXQGRV DQWHV GH FRQHFWDU 0DQWHQLPLHQWR &RQ REMHWR GH SURWHJHU HO PRQLWRU GH SRVLEOHV GDÙRV QR HMHU]D H[FHVLYD IXHU]D VREUH HO SDQHO /&' &XDQGR WUDVODGH HO PRQLWRU VRVWÑQJDOR SRU OD FDUFDVD SDUD OHYDQWDUOR QR FRORTXH ODV PDQRV R ORV GHGRV VREUH HO SDQHO /&' 'HVFRQHFWH HO PRQLWRU VL QR WLHQH LQWHQFLÚQ GH XVDUOR GXUDQWH XQ SHULRGR SURORQJDGR GH WLHPSR 'HVFRQHFWH HO PRQLWRU VL QHFHVLWD OLPSLDUOR XVH XQ SDÙR OLJHUDPHQWH KXPHGHFLGR SDUD OOHYDU D FDER OD OLPSLH]D 3XHGH OLPSLDU OD SDQWDOOD HPSOHDQGR XQ SDÙR VHFR FRQ HO PRQLWRU DSDJDGR 1R XWLOLFH QXQFD GLVROYHQWHV RUJËQLFRV FRPR DOFRKRO QL OÕTXLGRV TXH FRQWHQJDQ DPRQLDFR SDUD OLPSLDU HO PRQLWRU $ ILQ GH HYLWDU ULHVJRV GH GHVFDUJD HOÑFWULFD R GDÙRV LUUHSDUDEOHV HQ HO PRQLWRU QR OR H[SRQJD DO SROYR OD OOXYLD HO DJXD R ORV DPELHQWHV H[FHVLYDPHQWH KàPHGRV 6L HO PRQLWRU VH PRMD VÑTXHOR FRQ XQ SDÙR OR DQWHV SRVLEOH 6L SHQHWUD DJXD R DOJXQD RWUD VXVWDQFLD OÕTXLGD HQ HO LQWHULRU GHO PRQLWRU DSËJXHOR GH LQPHGLDWR \ GHVFRQHFWH HO FDEOH GH DOLPHQWDFLÚQ /LPSLH HO DJXD R OD VXVWDQFLD \ HQYÕH HO PRQLWRU D XQ FHQWUR GH DVLVWHQFLD WÑFQLFD , PSRUWDQWH 1R DOPDFHQH QL XWLOLFH HO PRQLWRU HQ OXJDUHV VRPHWLGRV D QLYHOHV H[FHVLYRV GH FDORU IUÕR R OX] VRODU GLUHFWD 6L GHVHD GLVIUXWDU VLQ OLPLWDFLRQHV GH ODV SUHVWDFLRQHV GHO PRQLWRU \ SURORQJDU VX YLGD àWLO WDQWR FRPR VHD SRVLEOH XWLOÕFHOR HQ XQ HQWRUQR TXH VH DMXVWH D ORV VLJXLHQWHV PËUJHQHV GH WHPSHUDWXUD \ KXPHGDG 7HPSHUDWXUD & ) +XPHGDG +5 , 03257$17( $FWLYH VLHPSUH XQ VDOYDSDQWDOODV PÚYLO VL GHMD HO PRQLWRU VLQ DWHQFLÚQ $FWLYH VLHPSUH XQD DSOLFDFLÚQ TXH DFWXDOLFH OD SDQWDOOD SHULÚGLFDPHQWH VL HO PRQLWRU VH GHVWLQD D OD SUHVHQWDFLÚQ SHUPDQHQWH GH FRQWHQLGR HVWËWLFR /D YLVXDOL]DFLÚQ LQLQWHUUXPSLGD GH LPËJHQHV ILMDV R HVWËWLFDV GXUDQWH XQ SHUÕRGR SURORQJDGR GH WLHPSR SXHGH SURYRFDU TXH OD LPDJHQ VH kTXHPHy SURYRFDQGR DVÕ OD DSDULFLÚQ GH XQD kLPDJHQ UHVLGXDOy R kLPDJHQ IDQWDVPDy HQ OD SDQWDOOD /D DSDULFLÚQ GH LPËJHQHV kTXHPDGDVy kUHVLGXDOHVy R kIDQWDVPDy HV XQ IHQÚPHQR FRQRFLGR HQ HO HQWRUQR TXH URGHD D ODV WHFQRORJÕDV GH IDEULFDFLÚQ GH SDQHOHV /&' (Q OD PD\RUÕD GH ORV FDVRV OD LPDJHQ kTXHPDGDy kUHVLGXDOy R kIDQWDVPDy GHVDSDUHFH JUDGXDOPHQWH DO FDER GH XQ WLHPSR WUDV DSDJDU HO HTXLSR $VLVWHQFLD WÑFQLFD /D FXELHUWD GH OD FDUFDVD VÚOR GHEH VHU DELHUWD SRU SHUVRQDO WÑFQLFR FXDOLILFDGR 6L QHFHVLWD FXDOTXLHU GRFXPHQWR SRU PRWLYRV GH UHSDUDFLÚQ R LQWHJUDFLÚQ SÚQJDVH HQ FRQWDFWR FRQ HO FHQWUR GH DWHQFLÚQ DO FOLHQWH ORFDO &RQVXOWH HO FDSÕWXOR k&HQWUR GH LQIRUPDFLÚQ DO FRQVXPLGRUy 6L GHVHD REWHQHU LQIRUPDFLÚQ UHODFLRQDGD FRQ HO WUDQVSRUWH FRQVXOWH OD VHFFLÚQ k(VSHFLILFDFLRQHV WÑFQLFDVy 1R GHMH HO PRQLWRU HQ XQ YHKÕFXOR H[SXHVWR D OD OX] VRODU GLUHFWD 1RWD 3ÚQJDVH HQ FRQWDFWR FRQ XQ WÑFQLFR GHO VHUYLFLR GH DVLVWHQFLD VL HO PRQLWRU QR IXQFLRQD FRQ QRUPDOLGDG R QR HVWË VHJXUR GH TXÑ PHGLGDV WRPDU GHVSXÑV GH KDEHU VHJXLGR ODV LQVWUXFFLRQHV GH XVR TXH ILJXUDQ HQ HVWH PDQXDO $GYHUWHQFLD 6L OD DSDULFLÚQ GH XQD LPDJHQ kTXHPDGDy kUHVLGXDOy R kIDQWDVPDy HV PX\ SURQXQFLDGD QR HV SUREDEOH TXH ORV VÕQWRPDV GHVDSDUH]FDQ HVWH HIHFWR QR WLHQH UHSDUDFLÚQ /D JDUDQWÕD QR FXEUH ORV SUREOHPDV GHVFULWRV DQWHULRUPHQWH , PSRUWDQWH 'HVFULSFLÚQ GH ORV VÕPERORV /DV VLJXLHQWHV VXEVHFFLRQHV GHVFULEHQ ODV FRQYHQFLRQHV DSOLFDGDV D HVWH GRFXPHQWR HQ PDWHULD GH VÕPERORV 1RWDV SUHFDXFLRQHV \ DGYHUWHQFLDV (V SRVLEOH TXH DOJXQRV GH ORV SËUUDIRV GH HVWD JXÕD DSDUH]FDQ DFRPSDÙDGRV GH XQ LFRQR H LPSUHVRV HQ QHJULWD R FXUVLYD 'LFKRV SËUUDIRV FRQWLHQHQ QRWDV SUHFDXFLRQHV \ DGYHUWHQFLDV 6XV VLJQLILFDGRV VH H[SOLFDQ D FRQWLQXDFLÚQ 1RWD (VWH LFRQR VH HPSOHD SDUD GHVWDFDU LQIRUPDFLÚQ LPSRUWDQWH \ VXJHUHQFLDV TXH SXHGHQ D\XGDUOH D XWLOL]DU PHMRU VX VLVWHPD LQIRUPËWLFR 3UHFDXFLÚQ (VWH LFRQR VH HPSOHD SDUD GHVWDFDU LQIRUPDFLÚQ TXH SHUPLWH HYLWDU SRVLEOHV GDÙRV DO KDUGZDUH R SÑUGLGDV GH GDWRV $GYHUWHQFLD (VWH LFRQR VH HPSOHD SDUD GHVWDFDU LQIRUPDFLÚQ DFHUFD GH OD SRVLELOLGDG GH TXH VH SURGX]FDQ OHVLRQHV SHUVRQDOHV \ FÚPR HYLWDUODV $OJXQDV DGYHUWHQFLDV SXHGHQ DSDUHFHU HQ IRUPDWRV GLIHUHQWHV R QR FRQWDU FRQ OD FRPSDÙÕD GH XQ LFRQR (Q WDOHV FDVRV OD SUHVHQWDFLÚQ HVSHFÕILFD GH OD DGYHUWHQFLD VHJXLUË ODV SDXWDV HVWDEOHFLGDV SRU OD DXWRULGDG DGPLQLVWUDWLYD FRUUHVSRQGLHQWH (OLPLQDFLÚQ GHO SURGXFWR \ HO PDWHULDO GH HPEDODMH 5HVLGXRV GH DSDUDWRV HOÑFWULFRV \ HOHFWUÚ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ÀJXUDFLyQ GHO PRQLWRU &RQILJXUDFLÚQ GHO PRQLWRU , QVWDODFLÚQ &RQWHQLGR GHO SDTXHWH 5HJLVWHU \RXU SURGXFW DQG JHW VXSSRUW DW , QVWDODFLÚQ GHO VRSRUWH GH OD EDVH &RORTXH HO PRQLWRU ERFDEDMR VREUH XQD VXSHUILFLH VXDYH ([WUHPH ODV SUHFDXFLRQHV SDUD HYLWDU DUDÙDU R GDÙDU OD SDQWDOOD ZZZSKLOLSVFRPZHOFRPH ( 6WDUW 4XLFN 6XMHWH HO VRSRUWH GH OD EDVH FRQ DPEDV PDQRV H LQVHUWH ILUPHPHQWH HO VRSRUWH GH OD EDVH HQ OD FROXPQD GH OD PLVPD  $FRSOH FRQ FXLGDGR OD EDVH D OD FROXPQD GH OD PLVPD KDVWD TXH HO VHJXUR TXHGH EORTXHDGR HQ OD EDVH  8WLOLFH ORV GHGRV SDUD DSUHWDU HO WRUQLOOR VLWXDGR HQ OD SDUWH LQIHULRU GH OD EDVH \ ILMH OD D OD FROXPQD GH IRUPD VHJXUD &DEOH GH DXGLR RSFLRQDO 9*$ RSFLRQDO '9, RSFLRQDO &RQÀJXUDFLyQ GHO PRQLWRU &RQH[LÚQ D XQ HTXLSR 0RGHOR (/ 0RGHOR (/3+ 6 5 4 5 (QWUDGD GH DOLPHQWDFLÚQ GH &$ (QWUDGD 9*$ (QWUDGD '9, ' %ORTXHR DQWLUURER . HQVLQJWRQ 0RGHOR (/+ (QWUDGD GH DOLPHQWDFLÚQ GH &$ (QWUDGD 9*$ (QWUDGD '9, ' (QWUDGD +'0, 6DOLGD GH DXGLR +'0, %ORTXHR DQWLUURER . HQVLQJWRQ 6 5 5 7 6 &RQH[LÚQ D XQ 3& &RQHFWH ILUPHPHQWH HO FDEOH GH DOLPHQWDFLÚQ D OD SDUWH SRVWHULRU GHO PRQLWRU $SDJXH HO 3& \ GHVFRQHFWH HO FDEOH GH DOLPHQWDFLÚQ &RQHFWH HO FDEOH GH VHÙDO GHO PRQLWRU DO FRQHFWRU GH YÕGHR VLWXDGR HQ OD SDUWH SRVWHULRU GHO 3& (QWUDGD GH DOLPHQWDFLÚQ GH &$ (QWUDGD 9*$ (QWUDGD '9, ' (QWUDGD +'0, (QWUDGD GH DXGLR 6DOLGD GH DXGLR %ORTXHR DQWLUURER . HQVLQJWRQ &RQHFWH ORV FDEOHV GH DOLPHQWDFLÚQ GHO 3& \ HO PRQLWRU D XQD WRPD GH VXPLQLVWUR HOÑFWULFR FHUFDQD (QFLHQGD HO 3& \ HO PRQLWRU 6L VH PXHVWUD DOJXQD LPDJHQ OD LQVWDODFLÚQ KD ILQDOL]DGR &RQÀJXUDFLyQ GHO PRQLWRU 8VR GHO PRQLWRU 0RGHOR (/+ 3HUPLWH (1&(1'(5 \ $3$*$5 HO PRQLWRU 3HUPLWH DFFHGHU DO PHQà 26' 'HVFULSFLÚQ GH ORV FRPSRQHQWHV VLWXDGRV HQ HO SDQHO IURQWDO GHO HTXLSR 0RGHOR (/ 3HUPLWH YROYHU DO QLYHO DQWHULRU GHO PHQà 26' 3HUPLWH DMXVWDU HO YROXPHQ GHO DOWDYR] 3HUPLWH DMXVWDU HO PHQà 26' 3HUPLWH FDPELDU OD IXHQWH GH HQWUDGD GH VHÙDO 3HUPLWH (1&(1'(5 \ $3$*$5 HO PRQLWRU 3HUPLWH DFFHGHU DO PHQà 26' 3HUPLWH YROYHU DO QLYHO DQWHULRU GHO PHQà 26' 3HUPLWH FDPELDU D OD YLVXDOL]DFLÚQ 3HUPLWH DMXVWDU HO PHQà 26' 3HUPLWH FDPELDU OD IXHQWH GH HQWUDGD GH VHÙDO 6PDUW, PDJH /LWH ([LVWHQ WUHV PRGRV GLVSRQLEOHV SDUD VX VHOHFFLÚQ 6WDQGDUG (VWiQGDU , QWHUQHW \ *DPH -XHJR 6PDUW, PDJH /LWH ([LVWHQ WUHV PRGRV GLVSRQLEOHV SDUD VX VHOHFFLÚQ 6WDQGDUG (VWiQGDU , QWHUQHW \ *DPH -XHJR &RQÀJXUDFLyQ GHO PRQLWRU 0RGHOR (/3+ 'HVFULSFLÚQ GHO PHQà HQ SDQWDOOD }4XÑ HV HO PHQà HQ SDQWDOOD 26'" (O PHQà HQ SDQWDOOD 26' HV XQD SUHVWDFLÚQ FRQ OD TXH FXHQWDQ WRGRV ORV PRQLWRUHV /&' 3KLOLSV 3HUPLWH DO XVXDULR DMXVWDU ODV SURSLHGDGHV GH OD SDQWDOOD R VHOHFFLRQDU IXQFLRQHV GLUHFWDPHQWH D WUDYÑV GH XQD YHQWDQD JUËILFD GH FRQWURO 8Q PHQà HQ SDQWDOOD LQWHUDFWLYR WLHQH HO VLJXLHQWH DVSHFWR 0RGHOR (/ , QSXW 3HUPLWH (1&(1'(5 \ $3$*$5 HO PRQLWRU 3HUPLWH DFFHGHU DO PHQà 26' 3HUPLWH YROYHU DO QLYHO DQWHULRU GHO PHQà 26' 3HUPLWH HVWDEOHFHU HO QLYHO GHO VHQVRU SDUD FRQWURODU DXWRPËWLFDPHQWH OD UHWURLOXPLQDFLÚQ 3HUPLWH DMXVWDU HO PHQà 26' 3HUPLWH FDPELDU OD IXHQWH GH HQWUDGD GH VHÙDO 6PDUW, PDJH /LWH ([LVWHQ WUHV PRGRV GLVSRQLEOHV SDUD VX VHOHF FLÚQ 6WDQGDUG (VWiQGDU , QWHUQHW \ *DPH -XHJR 9*$ '9, 3LFWXUH &RORU /DQJXDJH 26' 6HWWLQJV 0RGHOR (/+ , QSXW 9*$ '9, +'0, 3LFWXUH $XGLR &RORU /DQJXDJH 0RGHOR (/3+ 3RZHU 6HQVRU 2Q 2II , QSXW 3LFWXUH $XGLR &RORU &RQÀJXUDFLyQ GHO PRQLWRU 8VR EËVLFR \ VHQFLOOR GH ORV ERWRQHV GH FRQWURO (Q HVWH PHQà 26' SXHGH SXOVDU ORV ERWRQHV GHO PDUFR IURQWDO GHO PRQLWRU SDUD PRYHU HO FXUVRU \ HO ERWÚQ 2. [. . . ] 3UHIHUHQFHV 3UHIHUHQFLDV HO PHQà VHUË YLVLEOH (O PHQà FRQWH[WXDO WLHQH FXDWUR HQWUDGDV v 6PDUW&RQWURO /LWH $O VHOHFFLRQDU HVWD RSFLÚQ VH PXHVWUD OD SDQWDOOD $ERXW $FHUFD GH v 6HOHFW 3UHVHW 6HOHFFLRQDU FRQILJXUDFLÚQ SUHGHWHUPLQDGD 3HUPLWH DEULU XQ PHQà MHUËUTXLFR GH FRQILJXUDFLRQHV SUHGHWHUPLQDGDV JXDUGDGDV SDUD VX XVR LQPHGLDWR 8QD PDUFD GH YHULILFDFLÚQ 2SWLPL]DFLyQ GH OD LPDJHQ SHUPLWH GHWHUPLQDU OD FRQILJXUDFLÚQ SUHGHWHUPLQDGD VHOHFFLRQDGD DFWXDOPHQWH /D RSFLÚQ )DFWRU\ 3UHVHW &RQILJXUDFLÚQ SUHGHWHUPLQDGD GH IËEULFD WDPELÑQ VH SXHGH VHOHFFLRQDU HQ HO PHQà GHVSOHJDEOH v v 7XQH 'LVSOD\ $MXVWDU SDQWDOOD $EUH HO SDQHO GH FRQWURO GH 6PDUW&RQWURO /LWH 6PDUW, PDJH /LWH &RPSUXHEH OD FRQILJXUDFLÚQ DFWXDO 6WDQGDUG (VWËQGDU , QWHUQHW \ *DPH -XHJR 3DUD YROYHU D HMHFXWDU 6PDUW&RQWURO /LWH VHOHFFLRQH 6PDUW&RQWURO /LWH HQ HO PHQà 3URJUDP 3URJUDPD KDJD GREOH FOLF HQ HO LFRQR GHO 3& HQ HO HVFULWRULR R UHLQLFLH HO VLVWHPD 0HQà GH EDQGHMD GH WDUHDV KDELOLWDGR (O PHQà GH EDQGHMD GH WDUHDV VH SXHGH PRVWUDU KDFLHQGR FOLF FRQ HO ERWÚQ VHFXQGDULR HQ HO LFRQR GH 6PDUW&RQWURO /LWH GHVGH OD EDQGHMD GH WDUHDV +DJD FOLF FRQ HO ERWÚQ SULQFLSDO SDUD LQLFLDU OD DSOLFDFLÚQ 0HQà GH EDQGHMD GH WDUHDV GHVKDELOLWDGR 6L OD EDQGHMD GH WDUHDV VH HQFXHQWUD GHVKDELOLWDGD HQ OD FDUSHWD GH SUHIHUHQFLDV VÚOR VH HQFRQWUDUË GLVSRQLEOH OD RSFLÚQ (;, 7 &(55$5 3DUD TXLWDU 6PDUW&RQWURO /LWH FRPSOHWDPHQWH GH OD EDQGHMD GH WDUHDV GHVKDELOLWH OD RSFLÚQ 5XQ DW 6WDUWXS (MHFXWDU GXUDQWH HO LQLFLR HQ 2SWLRQV 2SFLRQHV !3UHIHUHQFHV 3UHIHUHQFLDV /D EDQGHMD GH WDUHDV WLHQH FLQFR HQWUDGDV v +HOS $\XGD $FFHVR DO DUFKLYR GHO 8VHU 0DQXDO 0DQXDO GH XVXDULR $EUH HO DUFKLYR GHO 8VHU 0DQXDO 0DQXDO GH XVXDULR D WUDYÑV GH OD YHQWDQD GHO QDYHJDGRU SUHGHWHUPLQDGR v v 7HFKQLFDO 6XSSRUW 6RSRUWH WÑFQLFR 0XHVWUD OD SËJLQD GH VRSRUWH WÑFQLFR &KHFN IRU 8SGDWH %XVFDU DFWXDOL]DFLRQHV /OHYD DO XVXDULR D OD SËJLQD 3', /DQGLQJ $FFHVR 3',  \ FRPSUXHED VL OD YHUVLÚQ LQVWDODGD FRLQFLGH FRQ OD PËV UHFLHQWH $ERXW $FHUFD GH 0XHVWUD LQIRUPDFLÚQ GH UHIHUHQFLD GHWDOODGD LQFOXLGD OD YHUVLÚQ GHO SURGXFWR LQIRUPDFLÚQ DFHUFD GH OD YHUVLÚQ \ HO QRPEUH GHO SURGXFWR ([LW &HUUDU &LHUUD 6PDUW&RQWURO /LWH v v 3RZHU6HQVRU 3RZHU6HQVRU¬ 'LVSRQLEOH VRODPHQWH SDUD HO PRGHOR (/3+ 3RZHU6HQVRU HV XQD WHFQRORJÕD H[FOXVLYD GH 3KLOLSV TXH SURWHJH HO PHGLRDPELHQWH \ SHUPLWH DO XVXDULR DKRUUDU KDVWD XQ GHO FRQVXPR HQHUJÑWLFR (Q FRQVRQDQFLD FRQ HO OHPD 6HQWLGR FRPàQ \ VLPSOLFLGDG GH 3KLOLSV SRGUË XWLOL]DU HVWD VHQFLOOD WHFQRORJÕD VLQ QHFHVLGDG GH LQVWDODU QLQJàQ KDUGZDUH R VRIWZDUH \ VLQ TXH WHQJD TXH LQWHUYHQLU HQ HO PRGR SUHGHWHUPLQDGR v v v }&ÚPR IXQFLRQD" 3RZHU6HQVRU IXQFLRQD VHJàQ HO SULQFLSLR GH WUDQVPLVLÚQ \ UHFHSFLÚQ GH VHÙDOHV kLQIUDUURMDVy QR SHUMXGLFLDOHV SDUD GHWHFWDU OD SUHVHQFLD GHO XVXDULR &XDQGR HO XVXDULR VH HQFXHQWUD VLWXDGR HQIUHQWH GHO PRQLWRU HVWH IXQFLRQD FRQ QRUPDOLGDG VHJàQ OD FRQILJXUDFLÚQ SUHGHWHUPLQDGD TXH HO XVXDULR KD\D HVWDEOHFLGR EULOOR FRQWUDVWH FRORU HWF 6XSRQLHQGR TXH HO PRQLWRU WHQJD HVWDEOHFLGR HO EULOOR DO FXDQGR HO XVXDULR VH OHYDQWH GHO DVLHQWR \ GHMH GH HVWDU HQIUHQWH GHO PRQLWRU ÑVWH UHGXFLUË DXWRPËWLFDPHQWH HO FRQVXPR GH HQHUJÕD KDVWD XQ 8VXDULR SUHVHQWH GHODQWH 8VXDULR DXVHQWH (O FRQVXPR GH HQHUJÕD TXH VH LOXVWUD DQWHULRUPHQWH HV VLPSOHPHQWH SDUD UHIHUHQFLD &RQILJXUDFLÚQ &RQILJXUDFLÚQ SUHGHWHUPLQDGD (Q OD FRQILJXUDFLÚQ SUHGHWHUPLQDGD &RQILJXUDFLÚQ  OD WHFQRORJÕD 3RZHU6HQVRU HVWË GLVHÙDGD SDUD GHWHFWDU OD SUHVHQFLD GHO XVXDULR FXDQGR HVWH VH VLWàD D XQD GLVWDQFLD GH HQWUH \ FP \ SXOJDGDV GH OD SDQWDOOD \ GHQWUR GH XQ ËQJXOR GH JUDGRV D OD L]TXLHUGD \ GHUHFKD GHO PRQLWRU &RQILJXUDFLÚQ SHUVRQDOL]DGD v 6L SUHILHUH VLWXDUVH HQ XQD SRVLFLÚQ IXHUD GH ORV SHUÕPHWURV PHQFLRQDGRV DQWHULRUPHQWH HOLMD XQD VHÙDO FRQ XQD LQWHQVLGDG VXSHULRU SDUD FRQVHJXLU XQD HILFDFLD GH GHWHFFLÚQ ÚSWLPD FXDQWR PËV DOWR VHD HO YDORU PËV SRWHQFLD WHQGUË OD VHÙDO GH GHWHFFLÚQ 3DUD PD[LPL]DU OD HILFDFLD GH 3RZHU6HQVRU \ FRQVHJXLU XQD GHWHFFLÚQ DSURSLDGD FROÚTXHVH XVWHG PLVPR GLUHFWDPHQWH HQIUHQWH GHO PRQLWRU v v 6L RSWD SRU FRORFDUVH D PËV GH FP SXOJDGDV GHO PRQLWRU XWLOLFH OD VHÙDO GH GHWHFFLÚQ PË[LPD SDUD GLVWDQFLDV GH KDVWD FP SXOJDGDV &RQILJXUDFLÚQ  'DGR TXH DOJXQDV SUHQGDV GH FRORU RVFXUR WLHQHQ D DEVRUEHU ODV VHÙDOHV LQIUDUURMDV LQFOXVR FXDQGR HO XVXDULR VH HQFXHQWUD D PHQRV GH FP SXOJDGDV GH OD SDQWDOOD DXPHQWH OD LQWHQVLGDG GH OD VHÙDO FXDQGR OOHYH XQD YHVWLPHQWD QHJUD X RVFXUD 3RZHU6HQVRU v 3XHGH YROYHU DO PRGR SUHGHWHUPLQDGR HQ FXDOTXLHU PRPHQWR FRQILJXUDFLÚQ  %RWÚQ GH DFFHVR GLUHFWR 'LVWDQFLD GHO VHQVRU Power Sensor 3 &ÚPR DMXVWDU OD FRQILJXUDFLÚQ 6L 3RZHU6HQVRU QR IXQFLRQD FRUUHFWDPHQWH GHQWUR R IXHUD GHO DOFDQFH SUHGHWHUPLQDGR VLJD HVWRV SDVRV SDUD DMXVWDU GH IRUPD SUHFLVD OD GHWHFFLÚQ v 3UHVLRQH OD WHFOD GH DFFHVR GLUHFWR GH 3RZHU6HQVRU v v v $SDUHFHUË OD SRVLFLÚQ SUHGHWHUPLQDGD ky HQ OD EDUUD GH DMXVWH &RORTXH HO DMXVWH GH OD GHWHFFLÚQ GH 3RZHU6HQVRU HQ &RQILJXUDFLÚQ \ SUHVLRQH $FHSWDU 3UXHEH OD QXHYD FRQILJXUDFLÚQ SDUD YHU VL 3RZHU6HQVRU OH GHWHFWD FRUUHFWDPHQWH HQ VX SRVLFLÚQ DFWXDO 1RWD 8Q PRGR GH 3RZHU6HQVRU PDQXDOPHQWH VHOHFFLRQDGR SHUPDQHFHUË RSHUDWLYR KDVWD TXH VH UHDMXVWH R VH UHFXSHUH HO PRGR SUHGHWHUPLQDGR 6L YH TXH 3RZHU6HQVRU HV H[FHVLYDPHQWH VHQVLEOH DO PRYLPLHQWR FHUFDQR SRU DOJXQD UD]ÚQ HVWDEOH]FD XQD LQWHQVLGDG GH VHÙDO LQIHULRU (VSHFLÀFDFLRQHV WpFQLFDV (VSHFLILFDFLRQHV WÑFQLFDV , PDJHQ3DQWDOOD 7LSR GH SDQHO 5HWURLOXPLQDFLÚQ 7DPDÙR GHO SDQHO 5HODFLÚQ GH DVSHFWR 'HQVLGDG GH SÕ[HOHV %ULOOR 6PDUW&RQWUDVW 5HODFLÚQ GH FRQWUDVWH WÕS 7LHPSR GH UHVSXHVWD WÕS 5HVROXFLÚQ ÚSWLPD ¯QJXOR GH YLVXDOL]DFLÚQ )XQFLRQHV GH PHMRUD GH OD LPDJHQ &RORUHV HQ SDQWDOOD )UHFXHQFLD GH DFWXDOL]DFLÚQ YHUWLFDO )UHFXHQFLD KRUL]RQWDO V5*% &RQHFWLYLGDG (QWUDGD GH VHÙDO 6HÙDO GH HQWUDGD )XQFLRQHV )XQFLRQHV GH XVXDULR , GLRPDV GHO PHQà 26' 2WUDV IXQFLRQHV &RPSDWLELOLGDG FRQ 3OXJ 6RSRUWH , QFOLQDFLÚQ $OLPHQWDFLÚQ 0RGR HQFHQGLGR &RQVXPR HQHUJÑWLFR 0ÑWRGR GH SUXHED (QHUJ\6WDU  )XQFLRQDPLHQWR QRUPDO WÕS (Q VXVSHQVLÚQ (/ : WÕS (/+ : WÕS : PË[ (/3+ : WÕS : PË[ 9ROWDMH GH HQWUDGD 9ROWDMH GH HQWUDGD GH &$ D 9&$ GH &$ D 9&$ 9&$ +] 9&$ +] +] +] : : : : 3OD\ 7)7/&' /(' y: FP [ PP FGPª PV [ D +] + 9 # &5 ! 6PDUW, PDJH /LWH 0 +] +] N+] N+] 6¹ '9, GLJLWDO \ 9*$ DQDOÚJLFD +'0, GLVSRQLEOH SDUD ORV PRGHORV (/+ \ (/3+ 6LQFURQL]DFLÚQ LQGHSHQGLHQWH \ VLQFURQL]DFLÚQ HQ YHUGH (/ (/+ (/3+ , QJOÑV IUDQFÑV DOHPËQ LWDOLDQR UXVR HVSDÙRO FKLQR VLPSOLILFDGR SRUWXJXÑV \ WXUFR %ORTXHR . HQVLQJWRQ ''&&, V5*% :LQGRZV 9LVWD;3 0DF 26; \ /LQX[ 9ROWDMH GH HQWUDGD GH &$ D 9&$ 9&$ +] +] : : (VSHFLÀFDFLRQHV WpFQLFDV $SDJDGR 'LVLSDFLÚQ GH FDORU )XQFLRQDPLHQWR QRUPDO (Q VXVSHQVLÚQ $SDJDGR , QGLFDGRU /(' GH HQFHQGLGR )XHQWH GH DOLPHQWDFLÚQ 'LPHQVLRQHV 3URGXFWR FRQ VRSRUWH $Q [ $O [ 3U 3URGXFWR VLQ VRSRUWH $Q [ $O [ 3U 3HVR 3URGXFWR FRQ VRSRUWH 3URGXFWR VLQ VRSRUWH 3URGXFWR FRQ HPEDODMH &RQGLFLRQHV GH IXQFLRQDPLHQWR , QWHUYDOR GH WHPSHUDWXUD IXQFLRQDPLHQWR , QWHUYDOR GH WHPSHUDWXUD (Q UHSRVR +XPHGDG UHODWLYD $OWLWXG 07%) : : : 9ROWDMH GH HQWUDGD 9ROWDMH GH HQWUDGD 9ROWDMH GH HQWUDGD GH &$ D 9&$ GH &$ D 9&$ GH &$ D 9&$ 9&$ +] 9&$ +] 9&$ +] +] +] +] %78K %78K %78K %78K %78K %78K %78K %78K %78K 0RGR HQFHQGLGR %ODQFR HVSHUDVXVSHQGLGR %ODQFR LQWHUPLWHQWH , QWHJUDGD 9&$ +] [ [ PP [ [ PP NJ NJ NJ & D & & D & D &RQGLFLRQHV GH XVR P IW (Q UHSRVR P IW KRUDV &DUDFWHUÕVWLFDV PHGLRDPELHQWDOHV 52+6 6¹ (3($7 6LOYHU ZZZHSHDWQHW (PEDODMH UHFLFODEOH &RQIRUPLGDG \ QRUPDV &( 0DUN )&& &ODVH % *267 6(0. 2 7&2 &HUWLILHG 8/F8/ +RPRORJDFLRQHV DGPLQLVWUDWLYDV %60, \ , 62 &DUFDVD &RORU 1HJUR SDUWH SRVWHULRU \ D]XO SDUWH IURQWDO $FDEDGR %ULOODQWH 1RWD /D KRPRORJDFLÚQ (3($7 *ROG R 6LOYHU VÚOR VHUË YËOLGD HQ ORV OXJDUHV HQ ORV TXH 3KLOLSV UHJLVWUH HO SURGXFWR 9LVLWH ZZZHSHDWQHW VL GHVHD REWHQHU LQIRUPDFLÚQ DFHUFD GHO HVWDGR GH UHJLVWUR HQ VX SDÕV (VWRV GDWRV VH HQFXHQWUDQ VXMHWRV D FDPELRV VLQ DYLVR SUHYLR 9LVLWH ZZZSKLOLSVFRPVXSSRUW VL GHVHD GHVFDUJDU OD YHUVLÚQ PËV UHFLHQWH GH HVWH GRFXPHQWR (VSHFLÀFDFLRQHV WpFQLFDV 5HVROXFLÚQ \ PRGRV SUHGHWHUPLQDGRV 5HVROXFLÚQ PË[LPD [ D +] HQWUDGD DQDOÚJLFD [ D +] HQWUDGD GLJLWDO 5HVROXFLÚQ UHFRPHQGDGD [ D +] HQWUDGD GLJLWDO )RUPDWR L S L S S L S 5HVROXFLÚQ [ [ [ [ [ [ [ 7LSR )UHF9 +] 6' 6' 6' 6' +' +' +' 1RWD 7HQJD HQ FXHQWD TXH OD SDQWDOOD IXQFLRQD PHMRU FRQ OD UHVROXFLÚQ QDWLYD GH ; D +] 3DUD ORJUDU XQD PHMRU FDOLGDG GH YLVXDOL]DFLÚQ VLJD OD UHFRPHQGDFLÚQ GH OD UHVROXFLÚQ $GPLQLVWUDFLyQ HQHUJtD $GPLQLVWUDFLÚQ HQHUJÕD 6L GLVSRQH GH XQD WDUMHWD JUËILFD R XQD DSOLFDFLÚQ LQVWDODGD HQ VX 3& FRPSDWLEOH FRQ 9(6$ '30 HO PRQLWRU SRGUË UHGXFLU DXWRPËWLFDPHQWH VX FRQVXPR GH HQHUJÕD FXDQGR QR VH HQFXHQWUH HQ XVR $O GHWHFWDU XQD HQWUDGD GHVGH XQ WHFODGR XQ UDWÚQ X RWUR GLVSRVLWLYR GH HQWUDGD HO PRQLWRU VH GHVSHUWDUË GH PDQHUD DXWRPËWLFD /D VLJXLHQWH WDEOD PXHVWUD HO FRQVXPR GH HQHUJÕD \ OD VHÙDOL]DFLÚQ GH HVWD FDUDFWHUÕVWLFD GH DKRUUR GH HQHUJÕD DXWRPËWLFD 'HILQLFLÚQ GH DGPLQLVWUDFLÚQ GH HQHUJÕD 0RGR 9(6$ 9ÕGHR 6LQ 6LQ FURQL FURQL (QHUJÕD FRQVXPL ]DFLÚQ ]DFLÚQ GD KRUL YHUWLFDO ]RQWDO 6Õ 1R 6Õ 1R : WÕS : WÕS &RORU GHO LQGLFDGRU /(' %ODQFR %ODQFR LQ WHUPLWHQWH '(6$&7, 9$'2 $FWLYR $&7, 9$'2 '(6 (Q VXVSHQ $&7, VLÚQ 9$'2 '(6 , QWHUUXSWRU $&7, DSDJDGR 9$'2 : WÕS $ FRQWLQXDFLÚQ VH PXHVWUDQ ORV SDUËPHWURV HPSOHDGRV SDUD PHGLU HO FRQVXPR GH SRWHQFLD GH HVWH PRQLWRU v v v v 5HVROXFLÚQ QDWLYD [ &RQWUDVWH %ULOOR QLWV 7HPSHUDWXUD GH FRORU N FRQ SDWUÚQ GH EODQFRV FRPSOHWR 1RWD (VWRV GDWRV VH HQFXHQWUDQ VXMHWRV D FDPELRV VLQ DYLVR SUHYLR , QIRUPDFLyQ DGPLQLVWUDWLYD , QIRUPDFLÚ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v 9LVXDO HUJRQRPLFV IRU JRRG LPDJH TXDOLW\ LV WHVWHG WR HQVXUH WRS SHUIRUPDQFH DQG UHGXFH VLJKW DQG VWUDLQ SUREOHPV , PSRUWDQW SDUDPHWHUV DUH OXPLQDQFH FRQWUDVW UHVROX WLRQ EODFN OHYHO JDPPD FXUYH FRORXU DQG OXPLQDQFH XQLIRUPLW\ DQG FRORXU UHQGHULQJ 3URGXFWV DUH WHVWHG DFFRUGLQJ WR ULJRURXV VDIHW\ VWDQGDUGV DW LPSDUWLDO ODERUDWRULHV (OHFWULF DQG PDJQHWLF ILHOGV HPLVVLRQV DV ORZ DV QRUPDO KRXVHKROG EDFNJURXQG OHYHOV v /RZ DFRXVWLF QRLVH HPLVVLRQV ZKHQ DSSOL FDEOH 6RPH RI WKH (QYLURQPHQWDO IHDWXUHV RI WKH 7&2 &HUWLILHG IRU GLVSOD\V v 7KH EUDQG RZQHU GHPRQVWUDWHV FRUSRUDWH VRFLDO UHVSRQVLELOLW\ DQG KDV D FHUWLILHG HQYL URQPHQWDO PDQDJHPHQW V\VWHP (0$6 RU , 62  9HU\ ORZ HQHUJ\ FRQVXPSWLRQ ERWK LQ RQ DQG VWDQGE\ PRGH PLQLPL]H FOLPDWH LPSDFW 5HVWULFWLRQV RQ FKORULQDWHG DQG EURPLQDWHG IODPH UHWDUGDQWV SODVWLFL]HUV SODVWLFV DQG KHDY\ PHWDOV VXFK DV FDGPLXP PHUFXU\ DQG OHDG 5R+6 FRPSOLDQFH %RWK SURGXFW DQG SURGXFW SDFNDJLQJ LV SUH SDUHG IRU UHF\FOLQJ v v v v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v v , QIRUPDFLyQ DGPLQLVWUDWLYD (3($7 ZZZHSHDWQHW k7KH (3($7 (OHFWURQLF 3URGXFW (QYLURQPHQWDO $VVHVVPHQW 7RRO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y %HQHILWV RI (3($7 5HGXFH XVH RI SULPDU\ PDWHULDOV 5HGXFH XVH RI WR[LF PDWHULDOV $YRLG WKH GLVSRVDO RI KD]DUGRXV ZDVWH (3($7 6 UHTXLUHPHQW WKDW DOO UHJLVWHUHG SURGXFWV PHHW (1(5*< 67$5 V HQHUJ\ HIILFLHQF\ VSHFLILFDWLRQV PHDQV WKDW WKHVH SURGXFWV ZLOO FRQVXPH OHVV HQHUJ\ WKURXJKRXW WKHLU OLIH &( 'HFODUDWLRQ RI &RQIRUPLW\ 7KLV SURGXFW LV LQ FRQIRUPLW\ ZLWK WKH IROORZLQJ VWDQGDUGV v v (1 6DIHW\ UHTXLUHPHQW RI , QIRUPDWLRQ 7HFKQRORJ\ (TXLSPHQW (1 5DGLR 'LVWXUEDQFH UHTXLUHPHQW RI , QIRUPDWLRQ 7HFKQRORJ\ (TXLSPHQW (1$$ , PPXQLW\ UHTXLUHPHQW RI , QIRUPDWLRQ 7HFKQRORJ\ (TXLSPHQW (1 /LPLWV IRU +DUPRQLF &XUUHQW (PLVVLRQ (1$$ /LPLWDWLRQ RI 9ROWDJH )OXFWXDWLRQ DQG )OLFNHU IROORZLQJ SURYLVLRQV RI GLUHFWLYHV DSSOLFDEOH (& /RZ 9ROWDJH 'LUHFWLYH (& (0& 'LUHFWLYH v v v v v v (& (X3 'LUHFWLYH (& 1R PSOHPHQWLQJ 'LUHFWLYH IRU 6WDQGE\ DQG 2II PRGH SRZHU FRQVXPS WLRQ DQG LV SURGXFHG E\ D PDQXIDFWXULQJ RUJDQL]DWLRQ RQ , 62 OHYHO 7KH SURGXFW DOVR FRPSO\ ZLWK WKH IROORZLQJ VWDQGDUGV v , 62 (UJRQRPLF UHTXL UHPHQW $QDO\VLV DQG FRPSOLDQFH WHVW PHWKRGV IRU HOHFWURQLF YLVXDO GLVSOD\V *6 (. *6 PDUN UHTXLUHPHQW SU(1 /RZ )UHTXHQF\ (OHFWULF DQG 0DJQHWLF ILHOGV IRU 9LVXDO 'LVSOD\ 035, , 035 /RZ )UHTXHQF\ (OHFWULF DQG 0DJQHWLF ILHOGV 7&2 &(57, ), (' 5HTXLUHPHQW IRU (QYLURQPHQW /DEHOLQJ RI (UJRQRPLFV (QHUJ\ (FRORJ\ DQG (PLVVLRQ 7&2 6ZHGLVK &RQIHGHUDWLRQ RI 3URIHVVLRQDO (PSOR\HHV IRU 7&2 YHUVLRQV v v v v , QIRUPDFLyQ DGPLQLVWUDWLYD (QHUJ\ 6WDU 'HFODUDWLRQ ZZZHQHUJ\VWDUJRY $V DQ (1(5*< 67$5 3DUWQHU ZH KDYH GHWHUPLQHG WKDW WKLV SURGXFW PHHWV WKH (1(5*< 67$5 JXLGHOL QHV IRU HQHUJ\ HIILFLHQF\ 1RWH :H UHFRPPHQG \RX VZLWFK RII WKH PRQLWRU ZKHQ LW LV QRW LQ XVH IRU D ORQJ WLPH )HGHUDO &RPPXQLFDWLRQV &RPPLVVLRQ )&& 1RWLFH 86 2QO\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v v v 5HRULHQW RU UHORFDWH WKH UHFHLYLQJ DQWHQQD , QFUHDVH WKH VHSDUDWLRQ EHWZHHQ WKH HTXLS PHQW DQG UHFHLYHU &RQQHFW WKH HTXLSPHQW LQWR DQ RXWOHW RQ D FLUFXLW GLIIHUHQW IURP WKDW WR ZKLFK WKH UHFHLYHU LV FRQQHFWHG &RQVXOW WKH GHDOHU RU DQ H[SHULHQFHG UDGLR79 WHFKQLFLDQ IRU KHOS &KDQJHV RU PRGLILFDWLRQV QRW H[SUHVVO\ DSSURYHG E\ WKH SDUW\ UHVSRQVLEOH IRU FRPSOLDQFH FRXOG YRLG WKH XVHUj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 WKLV GHYLFH PD\ QRW FDXVH KDUPIXO LQWHUIHUHQFH DQG  WKLV GHYLFH PXVW DFFHSW DQ\ LQWHUIHUHQFH UHFHLYHG LQFOXGLQJ LQWHU IHUHQFH WKDW PD\ FDXVH XQGHVLUHG RSHUDWLRQ &RPPLVVLRQ )HGHUDOH GH OD &RPPXQLFDWLRQ )&& 'HFODUDWLRQ &HW ÑTXLSHPHQW D ÑWÑ WHVWÑ HW GÑFODUÑ FRQ IRUPH DX[OLPLWHV GHV DSSDUHLOV QXPÑULTXHV GH FODVV %DX[ WHUPHV GH OjDUWLFOH 'HV UÔJOHV GH OD )&& &HV OLPLWHV VRQW FRQ£XHV GH ID£RQ Î IRXULU XQH SURWHFWLRQ UDLVRQQDEOH FRQWUH OHV LQWHUIÑUHQFHV QXLVLEOHV GDQV OH FDGUH GjXQH LQVWDOODWLRQ UÑVLGHQWLHOOH &(7 DSSDUHLO SURGXLW XWLOLVH HW SHXW ÑPHWWUH GHV K\SHUIUÑTXHQFHV TXL VL OjDSSDUHLO QjHVW SDV LQVWDOOÑ HW XWLOLVÑ VHORQ OHV FRQVLJQHV GRQQÑHV SHXYHQW FDXVHU GHV LQWHUIÑUHQFHV QXLVLEOHV DX[ FRPPXQLFDWLRQV UDGLR v , QIRUPDFLyQ DGPLQLVWUDWLYD &HSHQGDQW ULHQ QH SHXW JDUDQWLU OjDEVHQFH GjLQWHUIÑUHQFHV GDQV OH FDGUH GjXQH LQVWDOOD WLRQ SDUWLFXOLÔUH 6L FHW DSSDUHLO HVW OD FDXVH GjLQWHUIÑUHQFHV QXLVLEOHV SRXU OD UÑFHSWLRQ GHV VLJQDX[ GH UDGLR RX GH WÑOÑYLVLRQ FH TXL SHXW ÒWUH GÑFHOÑ HQ IHUPDQW OjÑTXLSHPHQW SXLV HQ OH UHPHWWDQW HQ IRQFWLRQ OjXWLOLVDWHXU SRXUUDLW HVVD\HU GH FRUULJHU OD VLWXDWLRQ HQ SUHQDQW OHV PHVXUHV VXLYDQWHV v v v v 5ÑRULHQWHU RX GÑSODFHU O DQWHQQH GH UÑFHS WLRQ $XJPHQWHU OD GLVWDQFH HQWUH O ÑTXLSHPHQW HW OH UÑFHSWHXU %UDQFKHU O ÑTXLSHPHQW VXU XQ DXWUH FLUFXLW TXH FHOXL XWLOLVÑ SDU OH UÑFHSWHXU 'HPDQGHU O DLGH GX PDUFKDQG RX G XQ WHFKQLFLHQ FKHYURQQÑ HQ UDGLRWÑOÑYLVLRQ 7RXWHV PRGLILFDWLRQV QjD\DQW SDV UH£X OjDSSUREDWLRQ GHV VHUYLFHV FRPSÑWHQWV HQ PDWLÔUH GH FRQIRUPLWÑ HVW VXVFHSWLEOH GjLQWHUGLUH Î OjXWLOLVDWHXU OjXVDJH GX SUÑVHQW ÑTXLSHPHQW 1jXWLOLVHU TXH GHV FÌEOHV 5) DUPÑV SRXU OHV FRQ QHFWLRQV DYHF GHV RUGLQDWHXUV RX SÑULSKÑULTXHV &(7 $33$5(, / 180(5, 48( '( /$ &/$66( % 5(63(&7( 7287(6 /(6 (;, *(1&(6 '8 5(*/(0(17 685 /( 0$7(5, (/ %528, //(85 '8 &$1$'$ (1 &RPSOLDQFH &]HFK 5HSXEOLF 2QO\ 3ROLVK &HQWHU IRU 7HVWLQJ DQG &HUWLILFDWLRQ 1RWLFH 7KH HTXLSPHQW VKRXOG GUDZ SRZHU IURP D VRFNHW ZLWK DQ DWWDFKHG SURWHFWLRQ FLUFXLW D WKUHHSURQJ VRFNHW $OO HTXLSPHQW WKDW ZRUNV WRJHWKHU FRPSXWHU PRQLWRU SULQWHU DQG VR RQ VKRXOG KDYH WKH VDPH SRZHU VXSSO\ VRXUFH 7KH SKDVLQJ FRQGXFWRU RI WKH URRPjV HOHFWULFDO LQVWDOODWLRQ VKRXOG KDYH D UHVHUYH VKRUWFLUFXLW SURWHFWLRQ GHYLFH LQ WKH IRUP RI D IXVH ZLWK D QRPLQDO YDOXH QR ODUJHU WKDQ DPSHUHV $ 7R FRPSOHWHO\ VZLWFK RII WKH HTXLSPHQW WKH SRZHU VXSSO\ FDEOH PXVW EH UHPRYHG IURP WKH SRZHU VXSSO\ VRFNHW ZKLFK VKRXOG EH ORFDWHG QHDU WKH HTXLSPHQW DQG HDVLO\ DFFHVVLEOH $ SURWHFWLRQ PDUN % FRQILUPV WKDW WKH HTXLS PHQW LV LQ FRPSOLDQFH ZLWK WKH SURWHFWLRQ XVDJH UHTXLUHPHQWV RI VWDQGDUGV 317 DQG 31( , QIRUPDFLyQ DGPLQLVWUDWLYD 1RUWK (XURSH 1RUGLF &RXQWULHV , QIRUPDWLRQ 3ODFHULQJ9HQWLODWLRQ 9$51, 1* )À56±. 5$ ', * 20 $77 +898'%5<7$5( 2&+ 877$* ±5 /±7³7. 20/, *$ 1±5 '8 67±//(5 ', 1 8758671, 1* 3³3/$76 3ODFHULQJ9HQWLODWLRQ $'9$56(/ 65* 9(' 3/$&(5, 1*(1 )25 $7 1(7 /('1, 1*(16 67, . 2* 67, . . 217$. 7 (5 1(07 7, /*1*(/, *( 3DLNND, OPDQNLHUWR 9$52, 786 6, -2, 7$ /$, 7( 6, 7(1 (77± 9(5. . 2-2 +72 92, '$$1 7$59, 77$(66$ +(/3267, , 55277$$ 3, 6725$6, $67$ 3ODVVHULQJ9HQWLODVMRQ $'9$56(/ 1³5 '(77( 8767<5(7 3/$66(5(6 0³ '8 3$66( 3³ $7 . 217$. 7(1( )25 6707, / )56(/ (5 /(77( ³ 1³ %60, 1RWLFH 7DLZDQ 2QO\ (UJRQRPLH +LQZHLV QXU 'HXWVFKODQG 'HU YRQ XQV JHOLHIHUWH )DUEPRQLWRU HQWVSULFKW GHQ LQ GHU 9HURUGQXQJ âEHU GHQ 6FKXW] YRU 6FKÍGHQ GXUFK 5ÜQWJHQVWUDKOHQ IHVWJHOHJWHQ 9RUVFKULIWHQ $XI GHU 5âFNZDQG GHV *HUÍWHV EHILQGHW VLFK HLQ $XINOHEHU GHU DXI GLH 8QEHGHQNOLFKNHLW GHU , QEHWULHEQDKPH KLQZHLVW GD GLH 9RUVFKULIWHQ âEHU GLH %DXDUW YRQ 6WÜUVWUDKOHUQ QDFK $QODJH , , , i $EV GHU 5ÜQWJHQYHURUGQXQJ HUIâOOW VLQG 'DPLW , KU 0RQLWRU LPPHU GHQ LQ GHU =XODVVXQJ JHIRUGHUWHQ :HUWHQ HQWVSULFKW LVW GDUDXI ]X DFKWHQ GD 5HSDUDWXUHQ QXU GXUFK )DFKSHUVRQDO GXUFK JHIâKUW ZHUGHQ QXU RULJLQDO(UVDW]WHLOH YHUZHQGHW ZHUGHQ EHL (UVDW] GHU %LOGUÜKUH QXU HLQH EDXDUW JOHLFKH HLQJHEDXW ZLUG $XV HUJRQRPLVFKHQ *UâQGHQ ZLUG HPSIR KOHQ GLH *UXQGIDUEHQ %ODX XQG 5RW QLFKW DXI GXQNOHP 8QWHUJUXQG ]X YHUZHQGHQ VFKOHFKWH /HVEDUNHLW XQG HUKÜKWH $XJHQEHODVWXQJ EHL ]X JHULQJHP =HLFKHQNRQWUDVW ZÍUHQ GLH )ROJH 'HU DUEHLWVSODW]EH]RJHQH 6FKDOOGUXFNSHJHO QDFK ', 1 EHWUÍJW G% $ RGHU ZHQL JHU $&+781* %(, 0 $8)67(//(1 ', ( 6(6 *(5±7(6 '$5$8) $&+7(1 '$ 1(7=67(&. (5 81' 1(7=. $%(/$16 &+/8 /(, &+7 =8*±1*/, &+ 6, 1' , QIRUPDFLyQ DGPLQLVWUDWLYD &KLQD 5R+6 7KH 3HRSOHjV 5HSXEOLF RI &KLQD UHOHDVHG D UHJXODWLRQ FDOOHG 0DQDJHPHQW 0HWKRGV IRU &RQWUROOLQJ 3ROOXWLRQ E\ (OHFWURQLF , QIRUPDWLRQ 3URGXFWV RU FRPPRQO\ UHIHUUHG WR DV &KLQD 5R+6 $OO SURGXFWV LQFOXGLQJ &57 DQG 0RQLWRU ZKLFK DUH SURGXFHG DQG VROG IRU &KLQD PDUNHW KDYH WR PHHW &KLQD 5R+6 UHTXHVW $WHQFLyQ DO FOLHQWH \ JDUDQWtD $WHQFLÚQ DO FOLHQWH \ JD UDQWÕD 3ROÕWLFD GH 3KLOLSV VREUH GHIHFWRV DVRFLDGRV D SÕ[HOHV HQ PRQLWRUHV GH SDQHO SODQR 3KLOLSV VH HVPHUD SRU SURSRUFLRQDU SURGXFWRV GH OD PË[LPD FDOLGDG (PSOHDPRV DOJXQRV GH ORV SURFHVRV LQGXVWULDOHV GH IDEULFDFLÚQ PËV DYDQ]DGRV \ DSOLFDPRV ODV SUËFWLFDV GH FRQWURO GH FDOLGDG PËV H[LJHQWHV 1R REVWDQWH D YHFHV UHVXOWD LQHYLWDEOH OD DSDULFLÚQ GH GHIHFWRV DVR FLDGRV D SÕ[HOHV R VXESÕ[HOHV HQ ORV SDQHOHV 7)7 TXH VH LQVWDODQ HQ ORV PRQLWRUHV GH SDQHO SODQR 1LQJàQ IDEULFDQWH SXHGH JDUDQWL]DU OD DXVHQFLD GH GHIHFWRV DVRFLDGRV D SÕ[HOHV XQ SDQHO SHUR 3KLOLSV JDUDQWL]D TXH UHSDUDUË R UHHPSOD]DUË FXDOTXLHU PRQLWRU HQ JDUDQWÕD TXH SUHVHQWH XQ QàPHUR LQDFHSWDEOH GH GHIHFWRV (VWH DYLVR H[ SOLFD ORV GLIHUHQWHV WLSRV GH GHIHFWRV DVRFLDGRV D SÕ[HOHV \ GHILQH ORV QLYHOHV GH GHIHFWR DFHS WDEOHV SDUD FDGD WLSR 3DUD TXH XQ SDQHO 7)7 HQ JDUDQWÕD VHD UHSDUDGR R VXVWLWXLGR D FDXVD GH OD H[LVWHQFLD GH GHIHFWRV DVRFLDGRV D SÕ[HOHV ÑVWRV GHEHQ HVWDU SUHVHQWHV HQ QàPHUR VXSHULRU D ORV QLYHOHV DFHSWDEOHV 3RU HMHPSOR XQ PRQLWRU QR SXHGH FRQWHQHU PËV GH XQ GH VXESÕ[HOHV GHIHFWXRVRV 3RU RWUD SDUWH 3KLOOLSV FRQFHGH XQD LPSRUWDQFLD DàQ PD\RU D DTXHOORV GHIHFWRV \ FRPELQDFLRQHV GH GHIHFWRV DVRFLD GRV D SÕ[HOHV TXH UHVXOWDQ PËV DSUHFLDEOHV (VWD SROÕWLFD HV YËOLGD SDUD WRGR HO PXQGR VXESt[HO VXESt[HO VXESt[HO XQD LPDJHQ &XDQGR ORV WUHV VXESÕ[HOHV GH FR ORUHV TXH IRUPDQ XQ SÕ[HO VH LOXPLQDQ DSDUHQ WDQ VHU XQ àQLFR SÕ[HO GH FRORU EODQFR &XDQGR ORV WUHV VXESÕ[HOHV GH FRORUHV VH RVFXUHFHQ DSDUHQWDQ VHU XQ àQLFR SÕ[HO GH FRORU QHJUR 2WUDV FRPELQDFLRQHV GH SÕ[HOHV LOXPLQDGRV \ RVFXUHFLGRV DSDUHQWDQ VHU SÕ[HOHV àQLFRV GH RWURV FRORUHV 7LSRV GH GHIHFWRV DVRFLDGRV D SÕ[HOHV /RV GHIHFWRV DVRFLDGRV D SÕ[HOHV \ VXESÕ[HOHV VH PDQLILHVWDQ HQ OD SDQWDOOD GH GLIHUHQWHV IRUPDV ([LVWHQ GRV FDWHJRUÕDV GH GHIHFWRV DVRFLDGRV D SÕ[HOHV \ GHQWUR GH FDGD XQD GH HOODV YDULRV WLSRV GH GHIHFWRV DVRFLDGRV D VXESÕ[HOHV 'HIHFWRV GH SXQWR EULOODQWH /RV GHIHFWRV GH SXQWR EULOODQWH VH PDQLILHVWDQ HQ IRUPD GH SÕ[HOHV R VXESÕ[HOHV TXH HVWËQ VLHPSUH LOXPLQDGRV R jHQFHQGLGRVj (Q RWUDV SDODEUDV XQ SXQWR EULOODQWH HV XQ VXESÕ[HO TXH GHVWDFD HQ OD SDQWDOOD FXDQGR HO PRQLWRU HVWË UHSURGXFLHQGR XQD LPDJHQ RVFXUD ([LVWHQ GLVWLQWRV WLSRV GH SXQWRV EULOODQWHV 8Q VXESÕ[HO URMR YHUGH R D]XO LOXPLQDGR St[HO 3Õ[HOHV \ VXESÕ[HOHV 8Q SÕ[HO R HOHPHQWR JUËILFR HVWË FRPSXHVWR SRU WUHV VXESÕ[HOHV FRQ ORV FRORUHV SULPDULRV URMR YHUGH \ D]XO 0XFKRV SÕ[HOHV MXQWRV IRUPDQ 'RV VXESÕ[HOHV DG\DFHQWHV LOXPLQDGRV 5RMR $]XO 3àUSXUD 5RMR 9HUGH $PDULOOR 9HUGH $]XO &LDQ &HOHVWH $WHQFLyQ DO FOLHQWH \ JDUDQWtD 'HIHFWRV GH SXQWR QHJUR /RV GHIHFWRV GH SXQWR QHJUR VH PDQLILHVWDQ HQ IRUPD GH SÕ[HOHV R VXESÕ[HOHV TXH HVWËQ VLHP SUH RVFXUHFLGRV R jDSDJDGRVj (Q RWUDV SDODEUDV XQ SXQWR RVFXUR HV XQ VXESÕ[HO TXH GHVWDFD HQ OD SDQWDOOD FXDQGR HO PRQLWRU HVWË UHSURGXFLHQ GR XQD LPDJHQ FODUD ([LVWHQ GLVWLQWRV WLSRV GH SXQWRV QHJURV 7UHV VXESÕ[HOHV DG\DFHQWHV LOXPLQDGRV XQ SÕ[HO EODQFR 1RWD 8Q SXQWR EULOODQWH GH FRORU URMR R D]XO HV DO PHQRV XQ PËV OXPLQRVR TXH ORV SXQWRV FROLQGDQWHV GLFKR SRUFHQWDMH GHVFLHQGH DO HQ HO FDVR GH XQ SXQWR EULOODQWH GH FRORU YHUGH 3UR[LPLGDG GH ORV GHIHFWRV DVRFLDGRV D SÕ[HOHV 'HELGR D TXH OD SUR[LPLGDG HQWUH YDULRV GHIHFWRV VLPLODUHV DVRFLDGRV D SÕ[HOHV \ VXESÕ[H OHV GHWHUPLQD HQ EXHQD PHGLGD VX YLVLELOLGDG 3KLOLSV KD GHWHUPLQDGR WDPELÑQ GLIHUHQWHV WROHUDQFLDV SDUD GLFKD PDJQLWXG 7ROHUDQFLDV SDUD GHIHFWRV DVRFLDGRV D SÕ[HOHV 3DUD WHQHU GHUHFKR D UHSDUDFLÚQ R VXVWLWXFLÚQ GHELGR D OD H[LVWHQFLD GH GHIHFWRV DVRFLDGRV D SÕ[HOHV GXUDQWH HO SHUÕRGR GH JDUDQWÕD HO SDQHO 7)7 GH XQ PRQLWRU 3KLOLSV SODQR GHEH VXIULU XQ QàPHUR GH GHIHFWRV DVRFLDGRV D SÕ[HOHV R VXESÕ[HOHV TXH VREUHSDVH ODV WROHUDQFLDV HQX PHUDGDV HQ ODV WDEODV VLJXLHQWHV $WHQFLyQ DO FOLHQWH \ JDUDQWtD '()(&726 '( 38172 %5, //$17( VXESÕ[HO LOXPLQDGR VXESÕ[HOHV DG\DFHQWHV LOXPLQDGRV VXESÕ[HOHV DG\DFHQWHV LOXPLQDGRV XQ SÕ[HO EODQFR 'LVWDQFLD HQWUH GRV GHIHFWRV GH SXQWR EULOODQWH 1àPHUR WRWDO GH GHIHFWRV GH SXQWR EULOODQWH GH WRGRV ORV WLSRV '()(&726 '( 38172 1(*52 VXESÕ[HO RVFXUHFLGR VXESÕ[HOHV DG\DFHQWHV RVFXUHFLGRV VXESÕ[HOHV DG\DFHQWHV RVFXUHFLGRV 'LVWDQFLD HQWUH GRV GHIHFWRV GH SXQWR QHJUR 1àPHUR WRWDO GH GHIHFWRV GH SXQWR QHJUR GH WRGRV ORV WLSRV 1Ä0(52 727$/ '( '()(&726 '( 38172 1àPHUR WRWDO GH GHIHFWRV GH SXQWR EULOODQWH R QHJUR GH WRGRV ORV WLSRV 1RWD R GHIHFWRV DVRFLDGRV D VXESÕ[HOHV DG\DFHQWHV GHIHFWR GH SXQWR 1, 9(/ $&(37$%/( ! PP 1, 9(/ $&(37$%/( R PHQRV R PHQRV ! [. . . ] $FHSWDU \ VHOHFFLRQH k5HVHWy 5HVWDEOHFHU SDUD UHFXSHUDU OD FRQILJXUDFLÚQ GH IËEULFD RULJLQDO 3 }(V OD SDQWDOOD /&' UHVLVWHQWH D ORV DUDÙD]RV" 5HVSXHVWD 3RU OR JHQHUDO VH UHFRPLHQGD QR VRPHWHU OD VXSHUILFLH GHO SDQHO D JROSHV IXHUWHV \ SURWHJHUOR IUHQWH D REMHWRV SXQ]DQWHV R FRQWXQGHQWHV $O PDQLSXODU HO PRQLWRU DVHJàUHVH GH QR HMHUFHU SUHVLÚQ R IXHU]D 5HVROXFLyQ GH SUREOHPDV \ SUHJXQWDV PiV IUHFXHQWHV 1RWD 8QD PHGLGD GHO FRORU GH OD OX] LUUDGLDGD SRU XQ REMHWR PLHQWUDV VH HVWË FDOHQWDQGR (VWD PHGLGD VH H[SUHVD HQ JUDGRV . HOYLQ XQD HVFDOD GH WHPSHUDWXUD DEVROXWD 8QD PHQRU WHPSHUDWXUD HQ JUDGRV . HOYLQ FRPR .  JHQHUD XQD WRQDOLGDG URMD XQD PD\RU WHPSHUDWXUD FRPR .  JHQHUD XQD WRQDOLGDG D]XO 8QD WHPSHUDWXUD QHXWUD HQ WRUQR D .  JHQHUD XQD WRQDOLGDG EODQFD 3 }3XHGR FRQHFWDU HO PRQLWRU /&' D FXDOTXLHU 3& HVWDFLÚQ GH WUDEDMR R 0DF" IDEULFDFLÚQ GH SDQHOHV /&' (Q OD PD\RUÕD GH ORV FDVRV OD LPDJHQ kTXHPDGDy kUHVLGXDOy R kIDQWDVPDy GHVDSDUHFH JUDGXDOPHQWH DO FDER GH XQ WLHPSR WUDV DSDJDU HO HTXLSR $FWLYH VLHPSUH XQ VDOYDSDQWDOODV PÚYLO VL GHMD HO PRQLWRU VLQ DWHQFLÚQ $FWLYH VLHPSUH XQD DSOLFDFLÚQ TXH DFWXDOLFH OD SDQWDOOD SHULÚGLFDPHQWH VL HO PRQLWRU /&' VH GHVWLQD D OD SUHVHQWDFLÚQ SHUPDQHQWH GH FRQWHQLGR HVWËWLFR $GYHUWHQFLD 6L OD DSDULFLÚQ GH XQD LPDJHQ kTXHPDGDy kUHVLGXDOy R kIDQWDVPDy HV PX\ SURQXQFLDGD QR HV SUREDEOH TXH ORV VÕQWRPDV GHVDSDUH]FDQ HVWH HIHFWR QR WLHQH UHSDUDFLÚQ /D JDUDQWÕD QR FXEUH ORV SUREOHPDV GHVFULWRV DQWHULRUPHQWH 3 }3RU TXÑ PL SDQWDOOD QR PXHVWUD WH[WRV GHILQLGRV \ SUHVHQWD FDUDFWHUHV LUUHJXODUHV" 5HVSXHVWD 6Õ 7RGRV ORV PRQLWRUHV /&' 3KLOLSV VRQ WRWDOPHQWH FRPSDWLEOHV FRQ 3& 0DF \ HVWDFLRQHV GH WUDEDMR 3XHGH TXH QHFHVLWH XVDU XQ FDEOH DGDSWDGRU SDUD FRQHFWDU HO PRQLWRU D XQ 0DF 3ÚQJDVH HQ FRQWDFWR FRQ VX UHSUHVHQWDQWH FRPHUFLDO GH 3KLOLSV VL GHVHD REWHQHU PËV LQIRUPDFLÚQ 3 }6RQ ORV PRQLWRUHV /&' 3KLOLSV FRPSDWLEOHV FRQ k3OXJDQG3OD\y" 5HVSXHVWD 6Õ ORV PRQLWRUHV 3KLOLSV VRQ FRPSDWLEOHV FRQ k3OXJDQG3OD\y DVÕ FRPR FRQ :LQGRZV 9LVWD ;3 \ 17 0DF 26; \ /LQX[ 3 }4XÑ VRQ OD DGKHUHQFLD GH LPËJHQHV ODV LPËJHQHV TXHPDGDV ODV LPËJHQHV UHVLGXDOHV \ ODV LPËJHQHV IDQWDVPD TXH VXHOHQ VXIULU ORV SDQHOHV /&'" 5HVSXHVWD (O PRQLWRU /&' IXQFLRQD PHMRU D VX UHVROXFLÚQ QDWLYD GH [ D +] 3DUD ORJUDU XQD PHMRU YLVXDOL]DFLÚQ XVH HVWD UHVROXFLÚQ 5HVSXHVWD /D YLVXDOL]DFLÚQ LQLQWHUUXPSLGD GH LPËJHQHV ILMDV R HVWËWLFDV GXUDQWH XQ SHUÕRGR SURORQJDGR GH WLHPSR SXHGH SURYRFDU TXH OD LPDJHQ VH kTXHPHy SURYRFDQGR DVÕ OD DSDULFLÚQ GH XQD kLPDJHQ UHVLGXDOy R kLPDJHQ IDQWDVPDy HQ OD SDQWDOOD /D DSDULFLÚQ GH LPËJHQHV kTXHPDGDVy kUHVLGXDOHVy R kIDQWDVPDy HV XQ IHQÚPHQR FRQRFLGR HQ HO HQWRUQR TXH URGHD D ODV WHFQRORJÕDV GH ¨ . RQLQNOLMNH 3KLOLSV (OHFWURQLFV 19 5HVHUYDGRV WRGRV ORV GHUHFKRV 3KLOLSV \ HO HPEOHPD GHO HVFXGR GH 3KLOLSV VRQ PDUFDV FRPHUFLDOHV UHJLVWUDGDV GH . RQLQNOLMNH 3KLOLSV (OHFWURQLFV 19 \ VH XVDQ FRQ DXWRUL]DFLÚQ GH . RQLQNOLMNH 3KLOLSV (OHFWURQLFV 19 /DV HVSHFLILFDFLRQHV VH HQFXHQWUDQ VXMHWDV D FDPELRV VLQ XQ DYLVR SUHYLR 9HUVLÚQ 0(7 [. . . ]