L

SUR H D SUDF FD DSSURDF R H D D R D UD D R UR (

RUH SHF FD ERRN H H RU H R UD D R FR U H RU D D FH
HU UD D H D RU SR UD D H D D D UH R UFH RU D R H D HU
H UD D R F H FD RU D UD D RU UD HU
H SU F SD D R H ERRN R FUHD H D UD H RUN RU D EH HU HU D
R H ( RU H H H UHT U UD D R D R
H FR UD H D S U UD D RU R N RUH FDUH DER H FD FH R
H RU UD D R H HU D F D FR H RU UR HSH H
DS HU H DE H D UD H RUN RU SUH UD D R D D R H E
H S RU FU HU D D HD UH R ( H D FR HU D DU H R S
FD R RU UD D R UR ( R R HU D D H 5H HUH FH D R D H
R FHU D UD D R HRU H H DSS FD R R F HS H UD D RU R
H H RS D D FD D SUDF FD N R H HU H R R D R SUR H D SH
F F H R R R RU HRUH FD UD H RUN RU UD D R H RUN RR RU
D D R D D H SHF F D FD EH H RU D
RU FR E D R H SRU D FH R UHD N
L L D DU D RR RU H D D D R H S RUH
DS HU HD SHF FD D D H DU H D T D (
H SD H SRU D FH R F UH D FR H D H R UD H R R H H RS
UD H H RU DFN UD D R F D H H D H UD H R D R D
S
DS HU SUR H D S H R SUH UD D R D D D UD H R H
SH H DS HU R HU D HU H R UD D R UR ( R H RU
D D H UDE F H H )UH F 5 D D SD F (
RU H RUN D D H R H H 1D R H UD D R DUH
DFFR SD H E D R D R R R D D FD RR FD H S H UD D RU
H D DHD DFN H UD D R F D H H D FR S H H H H F R
D D D H H SUR H
H H R EH SUDF FD FD EH H R S
SRU D UD H R UD D R HDF H R D D HU D D HU H FD R
RU HSH H HDU FR H H ERRN RU D H UR D SHUFH H HH
 RU D R F DSSURDF R D D D F R R H D DU DE H D
F DUDF HU H HD UH D R H H R H HU H U H DF D UD
D R SURFH HU D D FR HUD R R H H HD UH EH RUH
D H S D UD D R H H UD D RU D HD DU D S UH UHD HU
FR H FH DFN D H H HU D DFD H F FR H RU H
RUNS DFH D FD D N DUH SUR H D D SUDF FD D R H S RU H
D H D SHF R FR H D D HD F UH D HU H D D HSS
R H RU DSSURDF D H H RS UD D R N
( SHU H FH R HDF UD D R UH HD R SRU D R D D
HS HU D R R H H H RS HD H R DU H D SUR H
RU D R SUDF FD DSSURDF R D D FD H HU D RUH RU H
FR HUH D DSSURSU D H H H F H SUR F R H
UD D R SURFH E H H RS D DUH H R H H D D R H
H SUDF FD D N FR HU SUH UD D R D D FR H FR SDU D
FR UD DU D UD D D DUH H H R H H RS
N H UR UD R D D D H D HD UH D DU DE H
H D DUH UH H D R H UD D R SURFH H D H H HU
DFT UH D RUH HS N R H H R ER H( D D HD R (
H SH
H H SHF H L DUH D R R

H H RS N D D UH DU R FR FHS D D H H D H
D F UD H
DSS UHD D D D FD N R H UD D R SURFH
D RS DSSURSU D H UH HDUF UD H H
H H RS D SH H DE H UD H H RU DFN UD D R
F D H H
DSSUHF D H H DU H R ( H SH
 3U UD VOD L D DO VLV
&ULWHULD DQG IHDWXUHV

/ OV I U DGL
RZ WKH 67 LV UHDG DQG XQGHUVWRRG LV FUXFLDO IRU ERWK SUH WUDQVODWLRQ DQDO VLV DQG
WKH WUDQVODWLRQ SURFHVV LWVHOI ,Q HIIHFW D WH[W LV UHDG DW PXOWLSOH OHYHOV DQG LQ GLI
IHUHQW ZD V EHIRUH GXULQJ DQG DIWHU WKH WUDQVODWLRQ SURFHVV WDNLQJ LQWR DFFRXQW
WKH IROORZLQJ IDFWRUV

L WKH VWDJH WKDW WKH WUDQVODWLRQ SURFHVV KDV UHDFKHG

LL WKH IDPLOLDULW RI WKH UHDGHU ZLWK WKH 67 VXEMHFW PDWWHU
LLL WKH HIILFLHQF DQG HIIHFWLYHQHVV RI 67 FRPSUHKHQVLRQ DV UHJDUGV ODQJXDJH
VHQVH DQG LQIRUPDWLRQ
LY WKH UD VOD L EUL I ZKHUH SURYLGHG L H WKH LQIRUPDWLRQ DQG LQVWUXFWLRQV
JLYHQ WR WKH WUDQVODWRU ZKHQ WKH WUDQVODWLRQ LV DVVLJQHG

([SORULQJ WKHVH IDFWRUV VKRZV WKDW UHDGLQJ LV D PRUH LQWULFDWH DQG UHOHYDQW DFWLYLW
WKDQ PD EH LPDJLQHG

L 7 U DGL V D V I UD VOD L SU F VV FDQ EH EURNHQ GRZQ LQWR

D WKH FRPPLVVLRQLQJ RU DVVLJQPHQW VWDJH E SUH WUDQVODWLRQ UHDGLQJ F LQ
WUDQVODWLRQ UHDGLQJ G SRVW WUDQVODWLRQ UHDGLQJ
D H FRPPL LR L D L PH W WD H 7KLV LV WKH SRLQW DW ZKLFK WKH WUDQV
ODWRU LV H[SRVHG WR WKH 67 RIIHUHG DV D SURIHVVLRQDO DVVLJQPHQW RU DV DQ
DFDGHPLF WUDQVODWLRQ UD VOD L V U LF V SU LG U 763 D FRPSDQ
RU DJHQF DFWLQJ DV DQ LQWHUPHGLDU EHWZHHQ WKH HQG FOLHQW DQG WKH WUDQV
ODWRU VHQGV WKH 67 XVXDOO E HPDLO WR D WUDQVODWRU RQ LWV ERRNV ZKR
WKHQ DFFHSWV RU UHIXVHV WKH MRE RU QHJRWLDWHV WKH WHUPV RI WKH DVVLJQPHQW

HFLVLRQV RI DFFHSWDQFH WHQG WR EH EDVHG RQ IDFWRUV VXFK DV WKH WUDQVODWRU V DYDLO

DELOLW ODQJXDJH FRPELQDWLRQ VXEMHFW FRPSHWHQFH H[SHULHQFH RI ZRUNLQJ ZLWK
VLPLODU WH[W W SHV WKH GHDGOLQH VHW E WKH ZRUN SURYLGHU DQG WKH OHYHO RI UHPX
QHUDWLRQ FFHSWDQFH RI D MRE RIIHUHG E D 763 LV IUHTXHQWO WLPH FULWLFDO DV WKH
HQG FOLHQW PD KDYH XUJHQW QHHG RI WKH WUDQVODWLRQ RU PD VWLOO EH GHFLGLQJ ZKHUH
WR SODFH WKH WUDQVODWLRQ WKXV SXWWLQJ SUHVVXUH RQ WKH LQWHUPHGLDU WR ILUP XS D
 H W D ODWLR D DO L
TXRWH IRU WKH MRE 7KH WUDQVODWRU LQ WXUQ LV XQGHU SUHVVXUH WR DFFHSW RU UHIXVH WKH
MRE ,I WKH WUDQVODWRU UHIXVHV LW WKH 763 ZLOO QHHG WR ILQG DQRWKHU WUDQVODWRU ZKR LV
ZLOOLQJ WR WDNH LW RQ 3UHVVXUH DW WKH FRPPLVVLRQLQJ VWDJH PD FDXVH WKH WUDQVODWRU
WR RQO VFDQ WKH 67 LQ KDVWH HVSHFLDOO LI LW LV D OHQJWK GRFXPHQW 3ODFLQJ WKH MRE
LV OHVV WLPH FULWLFDO LI WKH GHDGOLQH LV QRW SDUWLFXODUO XUJHQW
:KHQ D WUDQVODWRU LV FRQWDFWHG GLUHFWO E D FOLHQW UDWKHU WKDQ WKURXJK DQ
LQWHUPHGLDU WKHUH PD EH PRUH URRP IRU PDQRHXYUH FRQFHUQLQJ WKH GHDGOLQH
RZHYHU GLUHFW FOLHQWV GR QRW DOZD V XQGHUVWDQG KRZ FUXFLDO WKH WLPH IDFWRU LV
ZKHQ SURGXFLQJ D WUDQVODWLRQ WR D SURIHVVLRQDO VWDQGDUG DQG DW WLPHV WKH PD WU
WR LPSRVH XQUHDOLVWLF GHDGOLQHV 7KLV SUHVVXUH PD DOVR OHDG WR D OHVV WKDQ WKRU
RXJK UHDGLQJ RI WKH 67
:KHUH WKH 67 LV VHW DV DQ H[DP WDVN WKH WUDQVODWRU VWDUWV IURP SRLQW E LQ WKH
SURFHVV

E H W D ODWLR HDGL HIRUH VWDUWLQJ WR WUDQVODWH LW LV DGYLVDEOH WR

UHDG WKH HQWLUH 67 WKRXJK WKLV PD QRW EH SUDFWLFDO LI LW LV ORQJ ,QLWLDO
VFUXWLQ RI WKH 67 DW VWDJH D PD RQO UHYHDO FHUWDLQ REYLRXV IHDWXUHV
VXFK DV WKH WRSLF RU VSHFLDOLVW VXEMHFW VRPH OH[LV DQG WHUPLQRORJ DQG
WKH EDVLF DUJXPHQW RU ORJLF )HDWXUHV VXFK DV FXOWXUDO UHIHUHQFHV VW OH
DQG UHJLVWHU VSHFLDOLVW WHUPLQRORJ DEEUHYLDWLRQV DFURQ PV DQG H[WUD
FRQWH[WXDO UHIHUHQFHV PD QHHG IXUWKHU UHVHDUFK HQHUDOO VSHDNLQJ
WKLV LV WKH UHDGLQJ VWDJH ZKHUH SRWHQWLDO FKDOOHQJHV VWDUW WR HPHUJH DQG
ZKHUH D JHQHUDO VWUDWHJ RU IUDPHZRUN IRU WKH WUDQVODWLRQ WDNHV VKDSH
HUH UHDGLQJ LV DLPHG DW FRPSUHKHQVLRQ DQG VLWXDWLQJ WKH FRQWHQW DQG
FRQWH[W UDWKHU WKDQ SUHGLFWLQJ WUDQVIHU LQWR WKH 7/ EXW WKH SUHVHQFH RI
SRWHQWLDO FKDOOHQJHV FUHDWHV ODQGPDUNV LQ WKH 67 DQG WKHVH ZLOO HYHQWX
DOO SOD D FUXFLDO UROH LQ WKH WUDQVODWLRQ SURFHVV

OWKRXJK WKHUH DUH WLPH FRQVWUDLQWV LQ WUDQVODWLRQ H[DPV WKH LPSRUWDQFH RI D WKRU
RXJK UHDGLQJ RI WKH 67 VKRXOG QRW EH XQGHUHVWLPDWHG UDVSLQJ HVVHQWLDO WH[W
PDUNHUV IURP WKH RXWVHW HQVXUHV D PRUH FRQILGHQW DSSURDFK WR WKH WDVN DQG KHOSV
EXLOG D SLFWXUH RI WKH WH[W V ORJLF WKXV FUHDWLQJ D VROLG IUDPHZRUN IRU WUDQVODWLRQ

F W D ODWLR HDGL 7KLV LV WKH VWDJH ZKHUH UHDGLQJ EHFRPHV DQ LQWHU

DFWLYH SURFHVV HQJDJLQJ WKH WUDQVODWRU LQ D GLDORJXH ZLWK WKH 67 7KH
ZD WUDQVODWRUV UHDG WKH 67 ZKLOH HQJDJHG LQ WKH WUDQVODWLRQ SURFHVV LV
QRW VLPSO OLQHDU WKRXJK D VWDQGDUG WH[W LV JHQHUDOO VHW RXW LQ D OLQHDU
PDQQHU E FRQYHQWLRQ DV D VHW RI LQWHUOLQNHG VHQWHQFHV DQG SDUDJUDSKV
,W PD FRQWDLQ UHIHUHQFHV WR LWHPV DOUHDG PHQWLRQHG D DS UD WR
LWHPV UHIHUUHG WR IXUWKHU RQ FD DS UD DQG H[WUD FRQWH[WXDO UHIHUHQFHV
7KH WLWOH RI DQ DUWLFOH PD FRQWDLQ ILJXUDWLYH ODQJXDJH VXFK DV D SOD
RQ ZRUGV UHGXFHG RU WHOHJUDSKLF IRUPV YHU VSHFLDOLVW ODQJXDJH RU
SKUDVLQJ ZKLFK FRXOG FDXVH SUREOHPV ZKHUH QR EDVLF IUDPHZRUN KDV
EHHQ HVWDEOLVKHG IRU WKH WUDQVODWLRQ )RU H[DPSOH LW PD EH SUHIHUDEOH
WR SRVWSRQH WUDQVODWLQJ WKH WLWOH XQWLO WKH HQG RI WKH WUDQVODWLRQ SURFHVV
 H W D ODWLR D DO L
ZKHQ WKH WUDQVODWRU KDV D FOHDUHU LGHD RI WKH IXOO DQG LQWHQGHG PHDQLQJ
RI WKH 67 W DQ SRLQW LQ WKH WUDQVODWLRQ LW PD EH KHOSIXO WR UH UHDG
SUHFHGLQJ SDVVDJHV LQ RUGHU WR FODULI WKH DUJXPHQW RU ORJLF VKHG OLJKW
RQ XQFOHDU UHIHUHQFHV PDNH DGMXVWPHQWV WR WKH GUDIW WUDQVODWLRQ RU
IDVW IRUZDUG VR DV WR LGHQWLI HOHPHQWV IXUWKHU RQ LQ WKH WH[W FDSDEOH
RI SURYLGLQJ VWUDWHJLF LQIRUPDWLRQ QRWKHU IDFWRU WR EHDU LQ PLQG LV WKDW
WKH F VL DQG F U F RI WKH 77 GHULYH QRW RQO IURP WKH EXLOG
LQJ EORFNV RI WKH GLVFRXUVH LWVHOI EXW IURP WKH LQWHUWH[WXDO UHODWLRQV WKDW
DUH FUHDWHG 6RPHWLPHV XQGHUHVWLPDWHG FRKHVLRQ DQG FRKHUHQFH SOD D
FUXFLDO UROH LQ WKH VXFFHVV RI WKH 67 DQG 77 DV SLHFHV RI ZULWLQJ DQG LQ
WKHLU DELOLW WR VLJQSRVW D WH[W V GLUHFWLRQ RI WUDYHO

,Q WH[WV ZLWK VSHFLILF OD RXW IHDWXUHV VXFK DV FHUWLILFDWHV OHJDO GRFXPHQWV WH[W
ZLWK EXOOHW SRLQWV DQG RU OLVWV GLDJUDPV RU WDEOHV UHDGLQJ LV HVVHQWLDO WR PDNH
WKH FRQQHFWLRQV EHWZHHQ IUDJPHQWHG WH[W ZKHUH VWDQGDUG FRKHVLYH GHYLFHV DUH
DEVHQW :KHUH WKHUH LV G F DOLVD L WKH ODFN RI FRQWH[W RU EDFNJURXQG
WKH WUDQVODWRU KDV WR SLHFH WRJHWKHU WKH LQIRUPDWLRQ DQG UHDVVHPEOH LW ORJLFDOO
,Q D WUDQVODWLRQ H[DP LW LV WHPSWLQJ QRW VXUSULVLQJO WR WUDQVODWH LQ D OLQHDU PDQ
QHU RQH VWHS DW D WLPH :KLOH WKLV DSSURDFK PD VHHP UHDVRQDEOH LI WKH SURFHVV
EHFRPHV WRR IUDJPHQWHG WKH WUDQVODWRU PD ORVH VLJKW RI WKH RYHUDOO SLFWXUH &URVV
UHIHUHQFLQJ ZLWKLQ WKH 67 ZKLOH WUDQVODWLQJ KHOSV FDQGLGDWHV WR DYRLG FUHDWLQJ
ZDWHUWLJKW FRPSDUWPHQWV DQG HQFRXUDJHV D PRUH LQIRUPHG WUHDWPHQW RI WKH 67
:KHUH WUDQVODWRUV XVH 7UD VOD L 0 P U 70 WRROV WKH UHDGLQJ HIIRUW
PD LQYROYH VHYHUDO DFWLRQV D UHDGLQJ DOO RI WKH 67 VHJPHQWV E UHDGLQJ WKH 67
D VHJPHQW DW D WLPH F UHDGLQJ WKH UDZ WUDQVODWLRQ SURYLGHG E WKH 70 ZKHUH
SURYLGHG :KHUH D UDZ WUDQVODWLRQ LV JHQHUDWHG E WKH VRIWZDUH UHDGLQJ VHUYHV WR
YHULI DQG RU HGLW WKH DFFXUDF DQG DSSURSULDWHQHVV RI WKH 70 VHJPHQW

G R W W D ODWLR HDGL 2Q FRPSOHWLRQ RI WKH GUDIW 77 LW VKRXOG EH UHDG

WKURXJK LQ RUGHU WR FKHFN WKHUH DUH QR RPLVVLRQV RI DQ IXQFWLRQDO HOH
PHQWV DVVHVV WKH DFFXUDF RI WKH PHVVDJH WUDQVIHU FKHFN WKDW DQ
WUDQVODWLRQ TXHULHV KDYH EHHQ GHDOW ZLWK DQG HQVXUH WKDW WKH 77 UHDGV
OLNH D SLHFH RI RULJLQDO ZULWLQJ LQ WKH 7/ ,W LV TXLWH D WDOO RUGHU WR H[SHFW
DOO WKHVH WDVNV WR EH FRQGXFWHG DW WKH VDPH WLPH HYHQ WKRXJK WUDQVODWRUV
DUH JRRG DW PXOWL WDVNLQJ VR LW LV DGYLVDEOH WR UHYLHZ WKH 77 LQ DW OHDVW WZR
VWDJHV ZKHUH WLPH DOORZV )LUVW WKH 77 QHHGV FKHFNLQJ DJDLQVW WKH 67 IRU
FRPSOHWHQHVV DQG DFFXUDF RI PHVVDJH WUDQVIHU VHFRQG LW VKRXOG EH UHDG
DV D SLHFH RI ZULWLQJ LQ WKH 7/ LQ LWV RZQ ULJKW UDWKHU WKDQ DV D WUDQVODWLRQ
DQG HGLWV PDGH WR SXQFWXDWLRQ DQG SUHVHQWDWLRQ ZKHUH DSSURSULDWH

,Q WUDQVODWLRQ H[DPV UHDGLQJ LV REYLRXVO YHU WLPH FULWLFDO EXW LW LV VRPHWLPHV

QHJOHFWHG LQ IDYRXU RI JHWWLQJ RQ ZLWK WKH MRE 3DFLQJ WKH SURJUHVV RI WKH WUDQVOD
WLRQ DJDLQVW WKH FORFN WR HQVXUH VXIILFLHQW WLPH IRU FRPSOHWLRQ DQG FKHFNLQJ LV D VNLOO
WKDW VKRXOG EH SUDFWLVHG DQG DSSOLHG LQ DGYDQFH WR DYRLG FDUHOHVV PLVWDNHV LQ W SLQJ
DQG VSHOOLQJ RPLVVLRQV DQG FUXFLDOO HUURUV LQ FRQYH LQJ WKH LQIRUPDWLRQ
 H W D ODWLR D DO L
LL DPLOLDUL L V EM F PD U WUDQVODWLRQ WKDW LV ILW IRU SXUSRVH LQ
WHUPV RI WKH DFFXUDF RI FRQFHSWV IDFWV ILJXUHV DQG PHVVDJH EHQHILWV IURP
SUHOLPLQDU DQG DFWLYH LQ WUDQVODWLRQ UHDGLQJ DV VWUHVVHG DERYH 5HVHDUFK
WKDW LV SHUWLQHQW WR WKH WRSLF PD DOUHDG KDYH EHHQ FDUULHG RXW RQ SUHYLRXV
RFFDVLRQV DQG DQ VXEMHFW VSHFLILF JORVVDULHV WHFKQLFDO PDWHULDO RU UHIHU
HQFHV PD ZHOO FRPH LQ XVHIXO 6RXUFHV DQG PDWHULDOV LQ WKH IRUP RI KDUG
FRS RU ZHE EDVHG FRUSRUD PD QHHG UHYLHZLQJ WR DVVHVV WKHLU XVHIXOQHVV
IRU D QHZ WUDQVODWLRQ DVVLJQPHQW 5HVHDUFKLQJ WKH WRSLF ZLOO SUREDEO LQYROYH
ZHE EDVHG UHVRXUFHV SRVVLEO OHQJWK RQHV DQG UHDGLQJ LI GRQH SURSHUO
FDQ LPSDFW VLJQLILFDQWO RQ WKH WLPH DYDLODEOH IRU SURGXFLQJ D SROLVKHG WUDQV
ODWLRQ /RFDWLQJ UHDGLQJ DQG DSSUDLVLQJ UHIHUHQFH PDWHULDOV LV WR VRPH H[WHQW
DQ RSHQ HQGHG DFWLYLW WKH LPSDFW RI ZKLFK QHHGV WR EH FDOFXODWHG HDUO RQ
LQ WKH WUDQVODWLRQ SURFHVV
LLL IILFL F D G II F L VV I 67 F PSU VL UDPPDU V D
D G V V 5HDGLQJ LV DQ LQWHJUDWHG DFWLYLW WKDW QRW RQO HQDEOHV WKH WUDQVOD
WRU WR JUDVS WKH 67 V EDVLF FKDUDFWHULVWLFV DQG EXLOG D SLFWXUH RI LWV FRQWHQW
DQG VHQVH EXW DOVR RQH WKDW LQYROYHV G F GL RU XQGHUVWDQGLQJ WKH IRU
PDO DVSHFWV RI 67 GLVFRXUVH :KLOH LW LV YLWDO WR JDLQ DQ RYHUDOO SLFWXUH RI
ZKDW LV JRLQJ RQ LW LV DOVR LPSRUWDQW WR FRUUHFWO LQWHUSUHW WKH JUDPPDWLFDO
DQG V QWDFWLF YDOXHV RI LQGLYLGXDO IRUPV DQG VWUXFWXUHV :KHUH WKH 6/ V QWD[
GLIIHUV FRQVLGHUDEO IURP WKDW RI WKH 7/ HVSHFLDOO ZKHUH WKH 6/ LV PRUH
FRPSOH[ DQG LQWULFDWH WKDQ WKH 7/ LW LV LPSRUWDQW WKDW DQ LQIRUPDWLRQ LV
FRUUHFWO WUDQVIHUUHG WR WKH 77 ZKHUH JUDPPDWLFDO RU V QWDFWLF FKDQJHV DUH
PDGH 0LVUHDGLQJ RU PLVXQGHUVWDQGLQJ YHUE DQG WHQVH XVH IRU H[DPSOH LV D
SDUWLFXODU SLWIDOO ZKHQ D WHQVH RU YHUE IRUP H J WKH SUHVHQW VLPSOH LV XVHG
GLIIHUHQWO LQ WKH 6/ DQG 7/ LUHFWO WUDQVIHUULQJ D SUHVHQW VLPSOH SUHVHQW
FRQWLQXRXV RU SUHVHQW FRQGLWLRQDO IURP (QJOLVK LQWR WKH 7/ PD UHVXOW LQ
FRQIXVLRQ ODFN RI DXWKHQWLFLW RU HUURU

5HDGLQJ LV DQ LQVWUXPHQW IRU FRPSUHKHQVLRQ LQ ZKLFK WKH WUDQVODWRU GHFRGHV WKH

67 V FRQWHQW DQG GLVFRXUVH GHSOR LQJ D YDULHG VNLOO VHW

LY 7 UD VOD L EUL I 8QGHUVWDQGLQJ WKH WH[W LQ FRQWH[W F DOLVD L

LV DLGHG E DQ UHOHYDQW LQIRUPDWLRQ VXSSOLHG E WKH FOLHQW ZRUN SURYLGHU RU
E DQ H[DP UXEULF WUDQVODWLRQ EULHI WDNHV YDULRXV IRUPV GHSHQGLQJ RQ LWV
IXQFWLRQ DQG SXUSRVH ,Q D WUDQVODWLRQ H[DP IRU H[DPSOH D EULHI LV XVXDOO
SURYLGHG WR DVVLVW FDQGLGDWHV ZLWK FRQWH[WXDOLVDWLRQ DQG W SLFDOO LQFOXGHV
WKH VRXUFH RI WKH 67 DXWKRU WLWOH GDWH RI SXEOLFDWLRQ WKH SXUSRVH RU IXWXUH
XVH RI WKH 77 DQG DQ VSHFLILF LQVWUXFWLRQV DV WR KRZ WR SHUIRUP WKH WUDQVOD
WLRQ WDVN ,Q D SURIHVVLRQDO FRQWH[W SUHYLRXV WUDQVODWLRQV RI UHODWHG PDWHULDOV
PD EH UHTXHVWHG IURP WKH FOLHQW RU SURYLGHG DXWRPDWLFDOO RZHYHU LQ WKH
SURIHVVLRQDO HQYLURQPHQW LW LV UDWKHU UDUH IRU GHWDLOHG EULHIV WR EH SURYLGHG E
LQWHUPHGLDULHV 7KLV PD EH GXH WR WKH ODFN RI GHWDLO VXSSOLHG E WKH LQWHU
PHGLDU V FOLHQW RU HYHQ D GHVLUH WR SUHVHUYH FOLHQW FRQILGHQWLDOLW :LWK D
GLUHFW FOLHQW LW PD EH HDVLHU WR REWDLQ D VSHFLILF WUDQVODWLRQ EULHI LYHQ WKH
 H W D ODWLR D DO L
IUHTXHQWO WLJKW GHDGOLQHV IRU WUDQVODWLRQ KRZHYHU LW PD QRW EH SRVVLEOH WR
REWDLQ UHOHYDQW RU XVHIXO LQIRUPDWLRQ IRU D ZRUNLQJ EULHI :KDW LV LQGLVSXW
DEOH LV WKDW ZKHUH LW H[LVWV D WUDQVODWLRQ EULHI XVXDOO UHVXOWV LQ D PRUH
LQIRUPHG XQGHUVWDQGLQJ RI WKH 67 DQG FDQ JXLGH WKH UHVHDUFK HIIRUW :KHUH
D EULHI LV ODFNLQJ WKH WUDQVODWRU FDQ RQO XVH KLV RU KHU H[SHULHQFH WR PDNH
DVVXPSWLRQV DERXW WKH SXUSRVH RI WKH WUDQVODWLRQ DQG WKH WDUJHW UHDGHUVKLS
7UDQVODWLRQ VWUDWHJLHV DQG VROXWLRQV FKRVHQ RQ SUHYLRXV VLPLODU RFFDVLRQV
PD FRPH LQ XVHIXO WKRXJK JHQHUDOO DVVXPSWLRQV QHHG WR EH IRUPXODWHG RQ
D FDVH E FDVH EDVLV

LYHQ WKH WLPH FRQVWUDLQWV LPSRVHG RQ WUDQVODWRUV LQ DQ DFDGHPLF RU SURIHVVLRQDO

FRQWH[W LW LV OLWWOH ZRQGHU WKDW D WKRURXJK UHDGLQJ RI WKH 67 LV QRW DOZD V FRQ
GXFWHG EHIRUH VWDUWLQJ WKH WUDQVODWLRQ DV ZH KDYH PHQWLRQHG ZRUNLQJ WUDQVODWRU
PD QRW KDYH WKH OX[XU RI WDNLQJ WLPH WR FRQVLGHU DOO DQJOHV RI WKH 67 EHIRUH
FRPPLWWLQJ WR D MRE DQG DQ H[DP FDQGLGDWH KDV UHODWLYHO OLWWOH WLPH WR DVVHVV
WKH 67 V IHDWXUHV 7KLV SUHVVXUH FRRNHU DWPRVSKHUH FDQ JLYH ULVH WR D VHULHV RI
GLVDGYDQWDJHV
7KH ILUVW LV WKDW D WUDQVODWRU ZLWK OLWWOH RU QR H[SHULHQFH RU XQGHUVWDQGLQJ RI WKH
67 LV KLQGHUHG HYHQ ZKHUH WKH 67 LV VKRUW RU RI D W SH WKDW PD EH FRQVLGHUHG
SUHGLFWDEOH IRU H[DPSOH D PDUULDJH RU ELUWK FHUWLILFDWH )RUPDWWHG GRFXPHQWV
VXFK DV OHJDO DQG DGPLQLVWUDWLYH PDWHULDOV PD GLIIHU DQG QRWKLQJ FDQ EH WDNHQ
IRU JUDQWHG LQ WHUPV RI FRQWHQW DQG VFRSH ,Q PDQ FDVHV HYHQ ZLWK VKRUW WH[WV
VSHFLILF IHDWXUHV RI WKH 67 QHHG LQYHVWLJDWLQJ EHIRUH WKH WUDQVODWLRQ SURFHVV FDQ
VWDUW 7UDQVODWLQJ VHJPHQW E VHJPHQW ZLWKRXW FRQVLGHULQJ WKH ZKROH WH[W WHQGV
WR JHQHUDWH D SURGXFW WKDW LV XQFRRUGLQDWHG DQG IUDJPHQWDU ZLWKRXW DQ RYHUDOO
FRKHVLRQ DQG FRKHUHQFH RYHU DQG EH RQG DQ FRQVLGHUDWLRQV RI DFFXUDF DQG
DSSURSULDWHQHVV ,Q IDFW HYHQ WKH SRVVLEOH DGYDQWDJH RI D TXLFNHU WXUQDURXQG PD
EH DQ LOOXVLRQ LI IRU H[DPSOH LW EHFRPHV FOHDU ZKLOH WUDQVODWLQJ WKDW IXUWKHU
UHVHDUFK LQWR VSHFLDOLVW WHUPV DQG FRQFHSWV LV QHHGHG WR SURGXFH DQ DFFXUDWH DQG
DSSURSULDWH WUDQVODWLRQ 6RPH VKRUW WH[WV DUH SDUWLFXODUO DZNZDUG IRU H[DP
SOH FDSWLRQV IRU LOOXVWUDWLRQV RU GLDJUDPV ZKLFK PD QRW EH DYDLODEOH WR WKH
WUDQVODWRU OLWHUDU WH[WV VXFK DV SRHPV DQG VORJDQV FUHDWHG IRU DGYHUWLVLQJ DQG
SURPRWLRQDO SXUSRVHV 7KH HIIRUW QHHGHG WR WXUQ VKRUW WH[WV DQG DGYHUWLVLQJ FRS
LQWR WUDQVODWLRQ SURGXFWV WKDW WLFN DOO WKH ER[HV IRU WKH VSHFLILHG SXUSRVH DQG
LQWHQGHG UHFLSLHQWV PD UHTXLUH D FRQVLGHUDEOH LQYHVWPHQW LQ WHUPV RI WLPH DQG
HIIRUW LQ SURSRUWLRQ WR WKH VL]H RI WKH WH[W LWVHOI
7KH VHFRQG GLVDGYDQWDJH LV WKDW D TXLFN VFDQQLQJ RI WKH 67 PD EH VXIILFLHQW
WR JDLQ DQ RYHUYLHZ RI WKH WH[W V FRQWHQW DQG RUJDQLVDWLRQ EXW LV XQOLNHO WR EH D
VRXQG EDVLV IRU WUDQVODWLRQ ,I D SURIHVVLRQDO DVVLJQPHQW FRQVLVWV RI D ORQJ WH[W WKH
WUDQVODWRU ZLOO SUREDEO QRW EH DEOH WR JDLQ D WKRURXJK DQG GHWDLOHG XQGHUVWDQGLQJ
RI WKH VXEMHFW PDWWHU LQ WKH OLPLWHG WLPH XVXDOO DYDLODEOH IRU GHFLGLQJ ZKHWKHU
RU QRW WR DFFHSW D MRE VR D GHFLVLRQ FRXOG EH PDGH RQ MXVW PLQLPDO 67 H[SRVXUH
/HQJWK UHSRUWV DQG SURMHFWV RQ WKH RWKHU KDQG DUH XVXDOO SUHIDFHG E D WDEOH RI
FRQWHQWV RU DQ LQGH[ ZKLFK KDV D VLJQSRVWLQJ RI LQIRUPDWLRQ IXQFWLRQ OVR XVH
IXO DUH DQ DEVWUDFWV RU LQWURGXFWLRQV WR UHSRUWV RU VWUXFWXUHG GRFXPHQWV SUHIDFHV
 H W D ODWLR D DO L
WR VSHFLILF FKDSWHUV RU VHFWLRQV DQG LQ DFDGHPLF DQG VFLHQWLILF SDSHUV WKH OLVW
RI UHIHUHQFHV DW WKH HQG 7KLV LQIRUPDWLRQ PD EH FUXFLDO WR WKH WUDQVODWLRQ WDVN
DQG HQDEOHV WKH WUDQVODWRU WR PDNH DQ LQIRUPHG GHFLVLRQ DERXW WKH IHDVLELOLW RI
DFFHSWLQJ WKH DVVLJQPHQW :KHUH VXFK JXLGHOLQHV DQG LQIRUPDWLRQ DUH QRW DYDLO
DEOH D ORQJ GRFXPHQW ZLOO VWLOO SUREDEO EH GLYLGHG LQWR VHFWLRQV RU VHJPHQWV DQG
WKHVH ZLOO KHOS WKH WUDQVODWRU WR XQGHUVWDQG WKH VFRSH RI WKH 67 7LWOHV KHDGLQJV
DQG VXE KHDGLQJV DOVR VHUYH D XVHIXO VLJQSRVWLQJ SXUSRVH
7KH WKLUG GLVDGYDQWDJH ZKLFK GHULYHV IURP WKH VHFRQG RQH LV WKDW ZLWK LQVXI
ILFLHQW NQRZOHGJH DQG XQGHUVWDQGLQJ RI WKH 67 V FRQWHQW DQG IHDWXUHV LW LV DOO WRR
HDV WR PDNH HUURUV RI MXGJHPHQW ZKLOH WUDQVODWLQJ UHVXOWLQJ LQ D ODFN RI FRKHVLRQ
DQG FRKHUHQFH LI QRW LQDFFXUDF DV ZHOO UXVK MRE LV OLNHO WR SURGXFH D OL UDO
UG I U UG UD VOD L ZKLFK IRU FRPSOH[ WH[WV ZLWK ORQJ VHQWHQFHV
GLIILFXOW FRQFHSWV DUJXPHQW DQG RSLQLRQ ZLOO QRW DGHTXDWHO UHIOHFW FUXFLDO IHD
WXUHV RI WKH 67 DQG LQ WKH FDVH RI VKRUW WH[WV FUHDWHG IRU LPSDFW ZLOO SURGXFH D
WUDQVODWLRQ WKDW DGKHUHV WRR FORVHO WR WKH 67 DQG ZKLFK LV WKHUHIRUH XQOLNHO WR
EH ILW IRU SXUSRVH

3U UD VOD L D DO VLV FUL ULD

7R VXP XS D IXQFWLRQDO DQDO VLV RI WKH 67 KHOSV WKH WUDQVODWRU WR JDLQ D KROLVWLF
DSSUHFLDWLRQ RI WKH WH[W LGHQWLI VSHFLILF IHDWXUHV WKDW ZLOO SOD DQ LPSRUWDQW SDUW LQ
WKH WUDQVODWLRQ SURFHVV DQG GHYHORS DSSURSULDWH VWUDWHJLHV IRU WDFNOLQJ FKDOOHQJHV
7ZR DQDO WLFDO PRGHOV DUH SURSRVHG RQH LQWHQGHG IRU D IXOO DQDO VLV DQG
DQRWKHU GHVLJQHG DV D IDVW WUDFN DSSURDFK IRU D TXLFN JHQHUDO DSSUDLVDO RI WKH 67
XVHIXO LQ DQ H[DP VLWXDWLRQ IRU H[DPSOH
7KH F LWH LD XVHG LQ WKH IXOO DQDO VLV DUH DV IROORZV

• VXEMHFW PDWWHU
• SXUSRVH
• JHQUH WH[W W SH
• IRUPDW
• ODQJXDJH JUDPPDU DQG V QWD[
• OH[LV DQG OLQJXLVWLF UHJLVWHU
• VW OLVWLF IHDWXUHV
• RUJDQLVDWLRQ DQG ORJLF
• PHDQLQJ
• YLHZSRLQW
• FXOWXUH DQG FRQWH[W

:KLOH WKH FULWHULD DUH VHW RXW DERYH DV D OLVW WKH DQDO WLFDO SURFHVV LV FRQVLGHUHG DV
D KROLVWLF DVVHVVPHQW RI WKH WH[W V IHDWXUHV ZKLFK DUH LQWHU GHSHQGHQW IRU H[DP
SOH PHD L LV UHOHYDQW WR DOO WKH FULWHULD IRU DQDO VLV (DFK FULWHULRQ LV LQWURGXFHG
EHORZ WKHQ DSSOLHG DQG GHYHORSHG LQ &KDSWHU
 H W D ODWLR D DO L
6 M F P
:KHQ DQDO VLQJ WKH VXEMHFW PDWWHU RI D WH[W DWLP DQG 0DVRQ LQ L FR H D G
W H D ODWR /RQJPDQ /RQGRQ UHIHU WR WKH IL OG I GLVF UV
7KH WHUP ILHOG JHQHUDOO LQFOXGHV ERWK WKH VXEMHFW PDWWHU DQG WKH IXQFWLRQ RI WKH
GLVFRXUVH 7KH ILHOG RI GLVFRXUVH LV GHILQHG E 0RQD DNHU W H :R G
DV Q DEVWUDFW WHUP IRU ZKDW LV JRLQJ RQ WKDW LV UHOHYDQW WR WKH VSHDNHU V
FKRLFH RI OLQJXLVWLF WHUPV ,W LV VRPHWLPHV DOVR NQRZQ DV WKH GRPDL )RU
H[DPSOH LQ 7H[W EHORZ WKH ILHOG RI GLVFRXUVH LV ODZ EXW PRUH VSHFLILFDOO
WUDGHPDUN ODZ ,W LV D OHJDO RSLQLRQ WKDW LV D GRFXPHQW WKDW JLYHV DQ H[SHUW V
YLHZ RI WKH IDFWV RI WKH FDVH DQG DV VXFK FRXOG SUHVHQW SDUWLFXODU FKDOOHQJHV WR D
WUDQVODWRU XQIDPLOLDU ZLWK WH[WV LQ WKH ILHOG RI LQWHOOHFWXDO SURSHUW ,Q OHJDO GRFX
PHQWV HYHU ZRUG PDWWHUV
3DWHQW DJHQWV RU SDWHQW DWWRUQH V DV WKH DUH NQRZQ LQ WKH 8QLWHG 6WDWHV KDYH
WR VWXG IRU HDUV LQ RUGHU WR PDVWHU WKH VSHFLDOLVW ILHOG RI GLVFRXUVH UHODWLQJ WR
SDWHQW DQG WUDGHPDUN ODZ EXW WKHUH DUH VWLOO ODZVXLWV WKDW KDYH RULJLQDWHG IURP
LQDGHTXDWH RU LQDSSURSULDWH WHUPLQRORJ ,W VRPHWLPHV KDSSHQV WKDW GHVFULELQJ DQ
LQYHQWLRQ LQ JHQHUDO UDWKHU WKDQ VSHFLILF WHUPV RU YLFH YHUVD OHDGV WR ORRSKROHV
EHLQJ FUHDWHG ZLWKLQ D PDQXIDFWXUHU V SDWHQW SRUWIROLR DOORZLQJ FRPSHWLWRUV WR
XVH WKH FRPSDQ V LGHDV 7KLV LV ZK WUDQVODWRUV ZRUNLQJ LQ VXFK D ILHOG KDYH WR
UHFRJQLVH ZKHWKHU D SDUWLFXODU WHUP LV VSHFLILF RU PRUH JHQHUDO
IHZ HDUV DJR 3IL]HU ORVW LWV &DQDGLDQ SDWHQW RQ 9LDJUD DIWHU D ORQJ EDW
WOH ZLWK D ULYDO PDQXIDFWXUHU 7HYD ZKR ZDQWHG WR PDNH D JHQHULF YHUVLRQ RI
WKH SRSXODU GUXJ 7KH &DQDGLDQ 6XSUHPH &RXUW DJUHHG ZLWK 7HYD WKDW 3IL]HU V
SDWHQW ZDV QRW YDOLG LQ WKH ILUVW SODFH EHFDXVH LW ZDV ZULWWHQ LQ VXFK D ZD DV WR
REVFXUH D VSHFLILF LQIRUPDWLRQ WKDW OHJDOO PXVW EH GLVFORVHG LQ D SDWHQW LQ WKLV
FDVH UHODWLQJ WR WKH QDPH RI WKH FRPSRXQG LQYROYHG VHH ZZZ EEF FR XN QHZV
EXVLQHVV
8QGHUVWDQGLQJ WKH VXEMHFW PDWWHU RU WRSLF RI D WH[W LV HVVHQWLDO LI LW LV WR EH
DFFXUDWHO DQG DSSURSULDWHO WUDQVODWHG 7KH IROORZLQJ SRLQWV FRQFHUQLQJ VXEMHFW
PDWWHU DUH UHOHYDQW WR WKH WUDQVODWLRQ WDVN

• WKH GHJUHH RI VS FLDOLVD L RI WKH WRSLF JHQHUDO VHPL VSHFLDOLVHG VSHFLDOLVHG

• WKH WUDQVODWRU V IDPLOLDULW ZLWK WKH VXEMHFW PDWWHU H J LQ JHQHUDO ODZ PRUH
VSHFLILFDOO FRQWUDFWV
• WKH WUDQVODWRU V H[SHULHQFH RI WUDQVODWLRQ LQ D SDUWLFXODU ILHOG
• DFFHVV WR DQG XVH RI DSSURSULDWH UHVRXUFHV

(DFK RI WKHVH SRLQWV KDV D EHDULQJ RQ KRZ WR DSSURDFK WKH WUDQVODWLRQ WDVN DQG
RQ WKH HQG UHVXOW DFNJURXQG DQG H[SHUWLVH GHULYHG IURP GLUHFW H[SHULHQFH RI
ZRUNLQJ LQ D VSHFLDOLVW ILHOG LV FOHDUO DQ DGYDQWDJH DV WKH LPSO QRW RQO IDPLO
LDULW ZLWK WKDW ILHOG EXW DOVR DQ LPPHUVLRQ LQ WKH ODQJXDJH FRQWH[W DQG FXOWXUH
RI WKDW ILHOG
 H W D ODWLR D DO L
([SHULHQFH RI WUDQVODWLQJ D VSHFLDOLVP ZLWK D EDFNJURXQG LQ WKDW DUHD RU
WKURXJK EXLOGLQJ XS NQRZOHGJH DQG FRPSHWHQFH WKURXJK UHVHDUFK DQG WKH SUDF
WLFH RI WUDQVODWLRQ SURYLGHV D SODWIRUP RQ ZKLFK WR FRQWLQXH GHYHORSLQJ H[SHUWLVH
FFHVV WR DQG IDPLOLDULW ZLWK DSSURSULDWH UHVRXUFHV LV HVVHQWLDO IRU DFFXUDF
VW OH UHJLVWHU DQG WHUPLQRORJ 6SHFLDOLVW VNLOOV DOVR HQKDQFH D WUDQVODWRU V SUR
GXFWLYLW DQG HQDEOH WKH MRE WR EH FRPSOHWHG PRUH TXLFNO DQG FRQILGHQWO 7KH
GHJUHH RI VSHFLDOLVDWLRQ ZLWKLQ D VXEMHFW DUHD DQG WKH WUDQVODWRU V RZQ H[SHULHQFH
ZLOO LQIOXHQFH WKH GHFLVLRQ WR DFFHSW WKH MRE EDVHG LQ SDUW RQ WKH WLPH QHHGHG IRU
DQ VSHFLDOLVW UHVHDUFK
:LWKLQ WKH VFLHQFHV WKHUH DUH YHU VSHFLILF OHYHOV RI VSHFLDOLVDWLRQ WUDQVODWRU
PD EH IDPLOLDU ZLWK WKH ILHOG RI PLFURELRORJ IRU H[DPSOH EXW QRW QHFHVVDULO ZLWK
PRUH VSHFLILF VXEMHFW DUHDV VXFK DV VRLO PLFURELRORJ SODQW SDWKRORJ DQG P FRO
RJ WKH VWXG RI IXQJL VSHFLDOLVW VXEMHFW VXFK DV WKH LQRFXODWLRQ RI OHJXPLQRXV
SODQWV ZLWK URRW QRGXOH EDFWHULD WR IDFLOLWDWH QLWURJHQ IL[DWLRQ ZRXOG EH FODVVHG DV
IDOOLQJ ZLWKLQ WKH UHPLW RI D VRLO PLFURELRORJLVW ZKR VWXGLHV WKH PLFUR RUJDQLVPV
IRXQG LQ VRLO /LNHZLVH VRPHRQH IDPLOLDU ZLWK KXPDQ YLUXVHV PD EH SX]]OHG E D
WH[W DERXW SHD HQDWLRQ PRVDLF YLUXV ZKLFK FRPPRQO DIIHFWV SHDV DQG EURDG EHDQV
XQOHVV WKH KDYH DOVR VWXGLHG SODQW SDWKRORJ .QRZOHGJH RI IXQJDO SODQW GLVHDVHV
ZRXOG FHUWDLQO EH KHOSIXO ZKHQ ZRUNLQJ RQ D WH[W DERXW WRS W R D L IH WD
WKH RUJDQLVP WKDW FDXVHG WKH EOLJKW UHVSRQVLEOH IRU WKH ,ULVK SRWDWR IDPLQH
6RPHWLPHV WKH ILHOG FRYHUHG E D WH[W ZLOO RYHUODS ZLWK D GLIIHUHQW VHHPLQJO
XQUHODWHG ILHOG IRU H[DPSOH D OHJDO WH[W DERXW D GLVSXWH ZLWK D VKRH FRPSDQ
PD FRQWDLQ D ZKROH KLJKO VSHFLILF VHFWLRQ RQ KRZ VKRHV DUH PDGH RU D JHQHWLFV
SDWHQW WKDW ORRNV UHODWLYHO VWUDLJKWIRUZDUG DW ILUVW JODQFH FRXOG EH IRXQG WR FRQ
WDLQ D ORQJ VWULQJ RI PDWKHPDWLFDO HTXDWLRQV
7KH VSHHG RI DFFHVV WR VXLWDEOH UHVRXUFHV LV D PDMRU IDFWRU LQ EXLOGLQJ WUDQVODWRU
FRQILGHQFH DQG LPSURYLQJ SURGXFWLYLW 5HVRXUFHV WKDW DUH XVHIXO IRU WUDQVODWRUV
LQFOXGH XS WR GDWH JHQHUDO DQG VSHFLDOLVW GLFWLRQDULHV PDQ RI ZKLFK DUH ZHE
EDVHG WRROV RU H ERRN IRUPDWV JORVVDULHV VW OH JXLGHV ZHEVLWHV LQWHUDFWLYH
WHUPLQRORJ EDQNV RQOLQH PHPRULHV DQG WUDQVODWRU IRUXPV IDU OHVV UHOLDEOH
UHVRXUFH LV PDF L UD VOD L 07 D IRUP RI DXWRPDWLF WUDQVODWLRQ ZKLFK
ZKLOH SURYLGLQJ DQ LPPHGLDWH UHVSRQVH WR WKH UHTXHVWHU LV RIWHQ XQDEOH WR UHVROYH
WUDQVIHU LVVXHV UHODWLQJ WR ODQJXDJH JUDPPDU DQG V QWD[ HYHQ WHUPLQRORJ ZLWK
DQ GHJUHH RI VXFFHVV RU UHOLDELOLW :KLOH LQVWDQW WUDQVODWLRQ PD SURYLGH D
ZRUNLQJ WRRO IRU D EDVLF XQGHUVWDQGLQJ RI D SKUDVH RU VHQWHQFH LW ODFNV FUHGLELOLW
DV D KROLVWLF ZRUNLQJ WRRO 7KDW VDLG WKHUH DUH LQGHHG VRPH KLJKO VRSKLVWLFDWHG
DQG YHU H[SHQVLYH 07 V VWHPV WKDW SURGXFH JRRG UHVXOWV ZKHQ XVHG LQ YHU
VSHFLILF VXEMHFW DUHDV WKRXJK PRVW RI WKHVH DUH EH RQG WKH UHDFK RI WKH DYHUDJH
IUHHODQFH WUDQVODWRU DQG DUH RQO IRXQG LQ ODUJH LQWHUQDWLRQDO RUJDQLVDWLRQV VXFK
DV WKH (XURSHDQ 3DWHQW 2IILFH (32 7KH (32 V V VWHP 3DWHQW 7UDQVODWH ZKLFK
LV LQWHJUDWHG LQWR WKH (VSDFHQHW GDWDEDVH LV WUDLQHG WR KDQGOH HODERUDWH SDWHQW
YRFDEXODU DQG JUDPPDU ,W SURYLGHV WUDQVODWLRQV WR DQG IURP (QJOLVK )UHQFK DQG
HUPDQ IRU D WRWDO RI GLIIHUHQW ODQJXDJHV EXW WKH TXDOLW GRHV YDU DQG LV QRW
DOZD V HTXDO WR WKDW DFKLHYHG E DQ H[SHULHQFHG KXPDQ WUDQVODWRU
 H W D ODWLR D DO L
0RVW WUDQVODWRU WUDLQLQJ FRXUVHV QRZ LQFOXGH VHVVLRQV RQ OHDUQLQJ KRZ WR XVH
WUDQVODWLRQ VRIWZDUH LQ SDUWLFXODU 70 RU 7 OV 7KHVH WRROV DUH VRIWZDUH
DSSOLFDWLRQV FDSDEOH RI VWRULQJ DQG LQWHUIDFLQJ 6/ DQG 7/ VHJPHQWV LQ VSHFLILF
ODQJXDJH FRPELQDWLRQV DQG RI SURGXFLQJ D UDZ WUDQVODWLRQ RI SDUW RI WKH 67
:KLOH ZH VKDOO QRW EH FRQVLGHULQJ 70 LQ DQ GHSWK LW LV ZRUWK SRLQWLQJ RXW WKDW
PRVW WUDQVODWLRQ ZRUN SURYLGHUV ZKHWKHU FRPSDQLHV RU LQVWLWXWLRQV XVH & 7
WRROV DQG H[SHFW WKHLU WUDQVODWRUV WR GR VR DV ZHOO RZHYHU VRPH WH[WV DUH
XQVXLWDEOH IRU WUDQVODWLRQ XVLQJ 70 H J VFDQQHG GRFXPHQWV FRQWDLQLQJ KDQGZULW
LQJ 7KH TXDOLW DQG XVHIXOQHVV RI 70 GHSHQGV RQ D WKH VL]H RI WKH FRUSXV DQG
QXPEHU RI PDWFKHV E WKH DELOLW RI WKH WUDQVODWRU WR UHYLHZ WKH PDWFKHV SURGXFHG
E WKH VRIWZDUH DQG WUDQVODWH DQ UHPDLQLQJ VHJPHQWV F WKH PHPRU WKDW WKH
WUDQVODWRU RU WUDQVODWLRQ WHDP KDV EXLOW XS RYHU WLPH RI LQWHUIDFHG 67V DQG 77V
,Q HIIHFW WUDQVODWLRQ XVLQJ & 7 WRROV LV XVXDOO D FRPELQHG WUDQVODWLRQ DQG UHYL
VLRQ DFWLYLW WKHUHIRUH ZH VKDOO IRFXV RQ KXPDQ WUDQVODWLRQV LQ WKLV ERRN
1RZDGD V DQ H[SHULHQFHG WUDQVODWRU WHQGV WR PDNH H[WHQVLYH XVH RI FRUSRUD
ERWK ELOLQJXDO DQG PRQROLQJXDO ZLWK ELOLQJXDO FRUSRUD UDWKHU WKDQ GLFWLRQDULHV
WHQGLQJ WR EH WKH ILUVW OLQH RI HQTXLU ZKHQ UHVHDUFKLQJ VSHFLDOLVW WHUPLQRORJ V
H[SODLQHG E -HUHP 0XQGD LQ W RG FWLR WR D ODWLR W GLH
D FRUSXV EDVHG DSSURDFK WR WUDQVODWLRQ ZDV GHYHORSHG LQ WKH ZDNH RI ZRUN VXFK
DV WKH &2 8,/ (QJOLVK LFWLRQDU SURMHFW 7KH UHVHDUFKHUV RQ WKLV SURMHFW FRO
OHFWHG D PRQROLQJXDO FRUSXV RI ZRUGV DQG SKUDVHV QDWXUDOO RFFXUULQJ LQ (QJOLVK
WH[WV DQG XVHG FRPSXWHUV WR DQDO VH WKH FRQWH[WV LQ ZKLFK WKH ZHUH XVHG DQG WR
GHWHUPLQH KRZ FRPPRQ RU XQFRPPRQ WKH YDULRXV WHUPV ZHUH
)RU D QXPEHU RI HDUV LQWHUQDWLRQDO RUJDQLVDWLRQV KDG EHHQ SXEOLVKLQJ JORV
VDULHV DQG JXLGHOLQHV LQ PXOWLSOH ODQJXDJHV DQG RQFH WKHVH EHFDPH DYDLODEOH LQ
HOHFWURQLF IRUP ELOLQJXDO PXOWLOLQJXDO FRUSRUD ZHUH WKH REYLRXV QH[W VWHS 7KH
DGYDQWDJH RI FRUSRUD RYHU GLFWLRQDULHV LV WKDW WKH VKRZ KRZ ZRUGV DUH XVHG LQ
FRQWH[W DOWKRXJK LW LV LPSRUWDQW WR GRXEOH FKHFN WKDW D FKRVHQ WHUP LV WKH FRUUHFW
HTXLYDOHQW IRU DQ 6/ ZRUG

7DV

D &RPSDUH WKH OHYHO RI VSHFLDOLVDWLRQ JHQHUDO VHPL VSHFLDOLVHG VSH

FLDOLVHG LQ WKH IROORZLQJ WH[WV :KLFK VSHFLILF HOHPHQWV LQ WKH WH[WV
LQGLFDWH WKH OHYHO RI VSHFLDOLVDWLRQ
E :KDW LV WKH SXUSRVH RI HDFK WH[W :KR PLJKW EHQHILW IURP WKHP DV
VRXUFH DQG WDUJHW WH[W UHDGHUV
F ,GHQWLI VXLWDEOH UHVRXUFHV IRU UHVHDUFKLQJ WKH VXEMHFW PDWWHU LQ WKH
VRXUFH DQG WDUJHW 7H[W LV DYDLODEOH LQ YDULRXV (8 ODQJXDJHV ,I WKH
SDUDOOHO WH[W LV DYDLODEOH LQ RXU 7/ LGHQWLI DQ GLIIHUHQFHV EHWZHHQ
WKH WZR YHUVLRQV LQ WHUPV RI FRQWHQW DQG ODQJXDJH
FR WL HG
 H W D ODWLR D DO L
FR WL HG
7

7KH IROORZLQJ WH[W LV DQ H[FHUSW IURP D OHJDO RSLQLRQ E DQ GYRFDWH

HQHUDO (8 MXGJH DW WKH DSSHDO VWDJH RI D FDVH FRQFHUQLQJ WKH KDUPRQLVD
WLRQ RI WUDGHPDUNV DQG GHVLJQ RI VROLG GHWHUJHQWV

IWHU GHVFULELQJ WKH WUDGHPDUN DSSOLHG IRU WKH RDUG RI SSHDO VWDWHG
WKDW WKH WDEOHW V VTXDUH RU UHFWDQJXODU VKDSH GLG QRW PDNH LW GLVWLQFWLYH
VLQFH WKH EDVLF JHRPHWULF VKDSHV VTXDUH URXQG WULDQJXODU RU UHFWDQ
JXODU ZHUH WKH PRVW REYLRXV VKDSHV IRU VXFK WDEOHWV DQG WKHUH ZDV
QRWKLQJ DUELWUDU RU IDQFLIXO DERXW VHOHFWLQJ RQH RI WKRVH GHVLJQV IRU WKH
PDQXIDFWXUH RI VROLG GHWHUJHQWV ,W DGGHG WKDW WKH VKRXOGHUHG FRUQHUV
EHYHOOHG HGJHV DQG FRQFDYH FHQWUHV ZHUH PXQGDQH YDULDWLRQV RQ WKH
QRUPDO JHW XS RI WKH SURGXFWV

6RXUFH HXU OH[ HXURSD HX GYRFDWH HQHUDO V RSLQLRQ RQ D FDVH EURXJKW

RQ KDUPRQLVDWLRQ RI WUDGHPDUNV DQG GHVLJQV SXEOLVKHG

7KH IROORZLQJ WH[W LV DQ H[FHUSW IURP DQ DUWLFOH IRXQG RQ WKH ZHEVLWH RI WKH
&

:DOODFH DQG URPLW KDYH ODQGHG D QHZ MRE FRQYLQFLQJ WKH ULWLVK SXE
OLF WR VSHQG WKHLU KROLGD V LQ WKH 8. 7KH KDSOHVV LQYHQWRU DQG KLV GRJ
ZKR RQFH KROLGD HG RQ WKH PRRQ VWDU LQ DQ DGYHUW IURP 9LVLW(QJODQG
EDFNHG E RWKHU 8. WRXULVW ERDUGV ,W VKRZV WKHP DW WRS WRXULVW YHQXHV
DIWHU DQ DERUWLYH DWWHPSW WR JR DEURDG E ILULQJ WKHPVHOYHV IURP D FDQ
QRQ ,W LV SDUW RI WKH JRYHUQPHQW V UHDW GYHQWXUH FDPSDLJQ ZKLFK
DLPV WR ERRVW WKH WRXULVW LQGXVWU

6RXUFH ZZZ EEF FR XN :DOODFH DQG URPLW SURPRWH ULWLVK

KROLGD V LQ QHZ DGYHUW

S V
7KH S SR H RI D WH[W PD EH FOHDU IURP WKH WLWOH RU KHDGLQJ DQG VXE KHDGLQJ RI D
WH[W RU IURP WKH RSHQLQJ VWDWHPHQW V RU LW PD HPHUJH DV WKH WH[W SURJUHVVHV 7KHUH
LV D GLVWLQFWLRQ WR EH PDGH EHWZHHQ WKH SXUSRVH RI WKH 67 LQ WHUPV RI WKH DXWKRU V
LQWHQWLRQV DQG WKH SXUSRVH IRU ZKLFK WKH WUDQVODWLRQ KDV EHHQ FRPPLVVLRQHG )RU
H[DPSOH D ODZ LV D VHW RI UXOHV WKDW UHJXODWHV D SDUWLFXODU GRPDLQ RU DFWLRQ DQG
FDQ EH HQIRUFHG E SHQDOWLHV WKXV WKH SXUSRVH FDQ EH WZRIROG UHJXODWLRQ DQG
 H W D ODWLR D DO L
GHWHUUHQFH 7KH UHDVRQ ZK D ODZ PLJKW EH WUDQVODWHG RQ WKH RWKHU KDQG FRXOG YDU
ZLGHO IURP LQIRUPLQJ RQH RU PRUH SHRSOH LQ WKH WDUJHW ODQJXDJH FXOWXUH DERXW WKH
FRQWHQW RI WKH ODZ RU WR DSSO LQJ RU LQWHUSUHWLQJ WKH ODZ LQ D OHJDO VHWWLQJ ELUWK
FHUWLILFDWH LV SURGXFHG LQ WKH 6/ WR SURYLGH DQ RIILFLDO UHFRUG RI VRPHRQH V ELUWK
EXW LW PD EH WUDQVODWHG WR FRPSO ZLWK DGPLQLVWUDWLYH RU OHJDO UHTXLUHPHQWV LQ
DQRWKHU FRXQWU
WH[W PD EH ZULWWHQ RVWHQVLEO IRU RQH SXUSRVH EXW PD DOVR KDYH D OHVV
DSSDUHQW RQH -RQDWKDQ 6ZLIW V OOL H D HO FRXOG DSSHDU WR EH MXVW D IDQFL
IXO DFFRXQW RI H[SORUDWLRQ DPRQJ VWUDQJH SHRSOHV EXW LWV PDLQ SXUSRVH LV D VDWLUH
RQ KXPDQ QDWXUH DQG VRFLHW
7KHUHIRUH D WH[W FDQ KDYH PRUH WKDQ RQH SXUSRVH DQ DUWLFOH LQ D QHZVSDSHU
FRXOG DW WKH VDPH WLPH DLP WR LQIRUP VWLPXODWH GHEDWH FULWLFLVH SUDLVH UHFRP
PHQG DGYLVH RIIHU RSLQLRQV DUJXH D FDVH RU D FRPELQDWLRQ RI WKHVH 7KXV LW LV
FUXFLDO IRU D WUDQVODWRU WR XQGHUVWDQG WKH SXUSRVH V RI D WH[W VR WKDW WKH WUDQVODWLRQ
FRQYH V QRW RQO WKH IDFWXDO LQIRUPDWLRQ LQWHQGHG WR HQOLJKWHQ WKH UHDGHU EXW DOVR
LWV H[SOLFLW DQG LPSOLFLW LQWHQWLRQV
7KH XVH RI WKH 67 DQG WKH LQWHQGHG XVH RI WKH 77 PD EH FOHDU IURP WKH WUDQVOD
WLRQ EULHI ZKHUH SURYLGHG 7KH DELOLW WR FRPSDUH DQG FRQWUDVW WKHVH XVHV ZLOO KHOS
WKH WUDQVODWRU WR GHYHORS D PRUH VROLG IUDPHZRUN RQ ZKLFK WR EXLOG WKH WUDQVODWLRQ
,Q WUDQVODWLRQ VWXGLHV WKHUH LV D VFKRRO RI WKRXJKW GXEEHG 6 S V 7 U
GHULYHG IURP WKH UHHN ZRUG IRU SXUSRVH DQG DWWULEXWHG PDLQO WR .DWKDULQD
5HLVV DQG DQV 9HUPHHU FFRUGLQJ WR -HUHP 0XQGD WKLV WKHRU IRFXVHV
DERYH DOO RQ WKH SXUSRVH RI WKH WUDQVODWLRQ ZKLFK GHWHUPLQHV WKH PHWKRGV DQG
VWUDWHJLHV WKDW DUH WR EH HPSOR HG LQ RUGHU WR SURGXFH D IXQFWLRQDOO DGHTXDWH
UHVXOW 0XQGD
V ZH KDYH VHHQ WKH SXUSRVH RI WKH 67 LV RIWHQ GLIIHUHQW IURP WKDW RI WKH
77 7R FLWH VRPH H[DPSOHV IURP WKH VFLHQWLILF ILHOG WKH 67 PD ZHOO KDYH EHHQ
ZULWWHQ IRU SXEOLFDWLRQ LQ D VFLHQWLILF MRXUQDO ZLWK D ZLGH UHDGHUVKLS VR WKDW
UHVHDUFKHUV FDQ JDLQ FUHGLW IRU WKHLU GLVFRYHULHV RZHYHU WKH 77 PD KDYH
EHHQ FRPPLVVLRQHG E RU RQ EHKDOI RI RQH LQGLYLGXDO UHDGHU LQ D UHVHDUFK
LQVWLWXWLRQ ZKR QHHGV WR VWXG H[LVWLQJ ZRUN LQ KLV RU KHU ILHOG 6RPHWLPHV D
SDWHQW GHSDUWPHQW ZLWKLQ D FRPSDQ ZLOO QHHG D WUDQVODWLRQ RI ZKDW LV NQRZQ DV
WKH SULRU DUW WKDW LV WKH SUHYLRXV ZRUN LQ WKH ILHOG LQ RUGHU WR EH DEOH WR GHP
RQVWUDWH WKDW WKHLU UHVHDUFK WHDP V LQYHQWLRQ KDV DGGHG VRPHWKLQJ QRYHO WR WKH
ERG RI NQRZOHGJH

7DV

)LQG WZR DUWLFOHV IURP GLIIHUHQW (QJOLVK ODQJXDJH SUHVV VRXUFHV H J 8.

DQG 86 FRQVLGHU WKHP DV 67V DQG LGHQWLI WKH SXUSRVH V RI HDFK WH[W /HW
XV LPDJLQH WKDW RX KDYH QRW EHHQ JLYHQ D VSHFLILF WUDQVODWLRQ EULHI :KDW
EHQHILW GHULYHV IURP LGHQWLI LQJ WKH SXUSRVH V RI WKH 67
 H W D ODWLR D DO L
S
:KHQ SHUIRUPLQJ D SUH WUDQVODWLRQ DQDO VLV WKH WUDQVODWRU ZLOO QHHG WR FRQVLGHU
QRW RQO WKH UHDGHUVKLS RI WKH 67 EXW DOVR WKDW RI WKH 77 DQG WKH H H RU W SH
RI WH[W LQYROYHG WKDW LV WR GHILQH WKH ZULWHU V SURGXFW 7KH ZRUG JHQUH LV XVHG
WR GHVFULEH GLIIHUHQW FDWHJRULHV RI ZRUNV QRW MXVW LQ OLWHUDWXUH EXW DOVR LQ DUW
DQG PXVLF ,Q D OLEUDU RU D ODUJH ERRNVKRS WKH ERRNV DUH RIWHQ DUUDQJHG RQ WKH
VKHOYHV XQGHU KHDGLQJV VXFK DV FULPH WHHQ ILFWLRQ URPDQFH IDQWDV DQG VR RQ
OO RI WKHVH DUH GLIIHUHQW JHQUHV RI ILFWLRQ
,Q QRQ ILFWLRQ WKH PRVW FRPPRQ JHQUHV LQFOXGH ELRJUDSKLHV UHIHUHQFH ZRUNV
XVHU PDQXDOV WUDYHO JXLGHV KLVWRU DQG KREELHV 2I FRXUVH WKLV LV RQO D IUDFWLRQ
RI WKH ZKROH SLFWXUH :LWKLQ PDLQVWUHDP MRXUQDOLVP WKHUH DUH VHYHUDO VHSDUDWH
JHQUHV HGLWRULDOV DQG OHDGHU DUWLFOHV JHQHUDO QHZV LWHPV IHDWXUHV ILOOHUV VKRUW
SLHFHV XVHG WR ILOO ZKDW LQ WKH GD V EHIRUH GHVNWRS SXEOLVKLQJ ZRXOG DFWXDOO KDYH
EHHQ D EODQN VSDFH UHYLHZV RELWXDULHV DQG UHSRUWV RI YDULRXV NLQGV 2WKHU JHQ
UHV WKDW WUDQVODWRUV PLJKW KDYH WR GHDO ZLWK DUH WH[WERRNV WUDYHO EURFKXUHV RU ZHE
SDJHV GHVFULELQJ SURGXFWV DQG VHUYLFHV
7UDQVODWLRQ WKHRULVWV WHQG WR SURGXFH GHILQLWLRQV RI JHQUH WKDW KDYH VSHFLILF
UHOHYDQFH IRU WUDQVODWLRQ DQG ZKLFK WKHUHIRUH IRFXV RQ ZULWWHQ GLVFRXUVH )RU
H[DPSOH JHQUH LV GHILQHG E HUYH DQG LJJLQV LQ WKH L NL D ODWLR
VHULHV SXEOLVKHG E 5RXWOHGJH DV

D FDWHJRU WR ZKLFK LQ DQ JLYHQ FXOWXUH D JLYHQ WH[W LV VHHQ WR EHORQJ DQG

ZLWKLQ ZKLFK LV VHHQ WR VKDUH D W SH RI FRPPXQLFDWLYH SXUSRVH ZLWK RWKHU
WH[WV WKDW LV WKH WH[W LV VHHQ WR EH PRUH RU OHVV W SLFDO RI WKH JHQUH

L NL D ODWLR HVWDEOLVKHV ILYH JHQUH W SHV OLWHUDU UHOLJLRXV SKLORVRSKL

FDO HPSLULFDO DQG SHUVXDVLYH ZKLOH FRPPHQWLQJ WKDW EULGLVD L LV FRPPRQ
L H ZKHQ WH[WV SRVVHVV IHDWXUHV IURP PRUH WKDQ RQH JHQUH )RU H[DPSOH D
ZHEVLWH SURYLGLQJ LQIRUPDWLRQ DQG DGYLFH RQ FRPPRQ DLOPHQWV FRXOG FRPELQH
WKH HPSLULFDO VFLHQWLILF UHVHDUFK DQG FOLQLFDO H[SHULHQFH ZLWK WKH SHUVXDVLYH
VXJJHVWLQJ ZKDW DFWLRQ WR WDNH RU ZKDW SURGXFW WR XVH WR SUHYHQW RU WUHDW D FRQGL
WLRQ QRWKHU UHOHYDQW SRLQW IURP WKH VDPH VRXUFH LV WKDW DOO VSHFLILF ILHOGV KDYH
JHQUH PDUNLQJ FKDUDFWHULVWLFV WKDW UHODWH WR WH[WV LQ ERWK WKH 6/ DQG WKH 7/ 7KH
SXUSRVH RI WKH WUDQVODWLRQ DQG WKH H[LVWHQFH RI D WUDQVODWLRQ EULHI DUH LQVWUXPHQWDO
LQ SURGXFLQJ D WUDQVODWLRQ LQ DQ DSSURSULDWH IRUPDW VW OH DQG ODQJXDJH 7KHUHIRUH
P G O V PHDQLQJ 7/ WH[WV ZLWK WKH VDPH RU VLPLODU VXEMHFW PDWWHU HYHQ
ZKHUH FRQYHUJHQFH LV RQO SDUWLDO FDQ EH XVHIXO IRU UHVHDUFKLQJ DQG DOLJQLQJ QRW
RQO 7/ VW OH WHUPLQRORJ DQG UHJLVWHU EXW DOVR WKH DU F RZHYHU
WKH PRUH K EULG WKH 67 WKH PRUH GLIILFXOW LW LV WR ILQG D PDWFKLQJ RU HYHQ SDUWO
PDWFKLQJ PRGHO WH[W
0RQD DNHU SRLQWV RXW WKDW JHQUH DQG WH[W W SH ERWK UHODWH WR
WKH ZD LQ ZKLFK WH[WXDO PDWHULDO LV SDFNDJHG E WKH ZULWHU DORQJ SDWWHUQV IDPLOLDU
WR WKH UHDGHU 7H[WV KDYH EHHQ FODVVLILHG LQ WZR PDLQ ZD V WR FDSWXUH WKLV W SH
 H W D ODWLR D DO L
RI SDFNDJLQJ 7KH ILUVW FODVVLILFDWLRQ VKH PHQWLRQV FLWHV FDWHJRULHV VLPLODU WR
WKRVH ZH KDYH OLVWHG DERYH XQGHU QRQ ILFWLRQ ZKHUHDV WKH VHFRQG

L V D PRUH VXEMHFWLYH OHVV LQVWLWXWLRQDOL]HG DQG WKHUHIRUH PXFK YDJXHU

FODVVLILFDWLRQ ZKLFK GRHV QRW QRUPDOO DSSO WR D ZKROH WH[W EXW UDWKHU WR
SDUWV RI LW 7 SLFDO ODEHOV XVHG LQ WKLV W SH RI FODVVLILFDWLRQ LQFOXGH QDU
UDWLRQ H[SRVLWLRQ DUJXPHQWDWLRQ DQG LQVWUXFWLRQ RWK W SHV RI
FODVVLILFDWLRQ DUH XVHIXO LQ GHILQLQJ WUDQVODWLRQ SUREOHPV DQG LQ MXVWLI LQJ
VSHFLILF VWUDWHJLHV WR RYHUFRPH WKHP
LELG

,W LV FHUWDLQO WUXH WKDW WKH JHQUH DQG RI FRXUVH WKH ILHOG RI GLVFRXUVH ZLOO LQIOX
HQFH WKH DSSURDFK RU VWUDWHJ WKDW WKH WUDQVODWRU DGRSWV 3HWHU 1HZPDUN GHILQHG
WZR GLVWLQFW DSSURDFKHV WR WUDQVODWLRQ F PP LFD L DQG V PD LF WUDQVODWLRQ
ER W D ODWLR H H[SODLQV WKDW FRPP LFDWL H W D ODWLR LV
UHDGHU FHQWUHG DLPLQJ WR PDNH WKH WH[W V PHVVDJH DV DFFHVVLEOH DV SRVVLEOH WR WKH
UHDGHU HPD WLF W D ODWLR RQ WKH RWKHU KDQG LV DXWKRU FHQWUHG DQG PRUH OLWHUDO
DQG 67 EDVHG LQ LWV DSSURDFK
,Q JHQUHV VXFK DV MRXUQDOLVP DGYHUWLVLQJ SXEOLF QRWLFHV DQG VR RQ D PRUH
FRPPXQLFDWLYH WUDQVODWLRQ LV XVXDOO HIIHFWLYH 2Q WKH RWKHU KDQG IRU WH[WV ZKHUH
FORVH DGKHUHQFH WR WKH 67 LV UHTXLUHG DQG WHUPV DQG FRQFHSWV DUH FORVHO GHILQHG
VXFK DV LQ OHJDO GRFXPHQWV DQG SDWHQWV WKH WUDQVODWRU LV OLNHO WR DGRSW D VHPDQWLF
DSSURDFK DQG SUHVHUYH WKH 6/ V QWD[ DQG VWUXFWXUHV DV IDU DV SRVVLEOH 7KH WZR
DSSURDFKHV PD RIWHQ RYHUODS HYHQ ZLWKLQ WKH VDPH WH[W EHFDXVH GLIIHUHQW SDUWV
RI WKH WH[W PD UHIOHFW GLIIHUHQW JHQUHV
,Q WKH LQWURGXFWRU SDUW RI WKH GHVFULSWLRQ LQ D SDWHQW ZKLFK GHVFULEHV WKH JHQHUDO
EDFNJURXQG WR WKH LQYHQWLRQ LW LV IRU H[DPSOH DFFHSWDEOH WR DGRSW D VOLJKWO IUHHU
WUDQVODWLRQ VW OH EXW WKH FODLPV ZKLFK OLVW WKH VSHFLILF IHDWXUHV WKDW UHQGHU WKH LQYHQWLRQ
QRYHO KDYH WR UHPDLQ H[WUHPHO IDLWKIXO WR WKH RULJLQDO 7KLV LV EHFDXVH DQ H[FHVVLYH
UDOLVD L VXFK DV XVH RI D V S U UGL D RU S U P D JHQHUDO WHUP VXFK
DV DQ LPDJH LQVWHDG RI D S P D PRUH VSHFLILF WHUP VXFK DV DQ ; UD LPDJH
FRXOG DIIHFW WKH RXWFRPH LQ WKH FDVH RI D ODZVXLW RYHU SDWHQW LQIULQJHPHQW
7KHUH DUH RWKHU GHILQLWLRQV RI JHQUH EXW JHQHUDOO VSHDNLQJ WKH PDLQ LGHD LV
WKDW D JHQUH LV D W SH RI WH[W WKDW LV UHFRJQLVHG E D ODQJXDJH FRPPXQLW DV KDYLQJ
D SDUWLFXODU IRUP DQG SXUSRVH H J D ODZ D ZLOO D SDWHQW D SRHP HWF

7DV

D 8VLQJ 7H[WV DQG IURP 7DVN DERYH LGHQWLI WKH JHQUH V RI HDFK WH[W
E )LQG WZR GLIIHUHQW NLQGV RI WH[WV LQ (QJOLVK IURP DQ VRXUFH RQH VKRXOG
EH K EULG DQG WKH RWKHU LQ D VLQJOH JHQUH :KLFK LV WKH HDVLHU WR WUDQV
ODWH DQG ZK
 H W D ODWLR D DO L
) P
)R PDW LV GHILQHG KHUH DV WKH SK VLFDO OD RXW DQG WKH QRQ OH[LFDO IHDWXUHV RI D
WH[W ,Q HVVHQFH LW LV D IUDPH WKDW DOORZV D WH[W WR EH VLWXDWHG LQ D UHFRJQLVDEOH
IRUP ZKLFK PD EH D VLPSOH ZULWWHQ WH[W FRQVLVWLQJ RI D VHULHV RI SDUDJUDSKV RU
D SUHVHQWDWLRQ LQ 06 3RZHU3RLQW WKDW LQFOXGHV D UDQJH RI GHVLJQ IHDWXUHV VXFK DV
WH[W EXEEOHV FDSWLRQV LPSRUWHG JUDSKLFV EXOOHW SRLQWV DQG VR RQ IRUPDW LV
HVVHQWLDOO D GHVLJQ IHDWXUH EXW DOVR D FXOWXUDO HQYHORSH ZKLFK PD EH FKDUDF
WHULVWLF RI WKH WH[W W SH LWVHOI :KHUH WKH IRUPDW RI WKH 67 KDV D VWDQGDUG OD RXW IRU
H[DPSOH D EDODQFH VKHHW WKH WUDQVODWLRQ WDVN ZLOO LQYROYH WUDQVIHU RI WKH 67 WR WKH
VWDQGDUG 7/ IRUPDW IRU WKH JHQUH LW LV RIWHQ WKH FDVH WKDW IRUPDWV LQ RQH ODQJXDJH
FRQWH[W QHHG VRPH DGDSWDWLRQ IRU WUDQVIHU WR WKH 7/ 77
FDVH LQ SRLQW UHJDUGV D WUDQVODWLRQ FRPPLVVLRQHG E D ULWLVK SKDUPDFHXWLFDO
FRPSDQ IRU D PDUNHWLQJ HYHQW DEURDG IHDWXULQJ D SURGXFW RQ D VWDQG SDQHO 7KH
67 ZDV WUDQVODWHG LQWR WKH 7/ E DQ H[SHULHQFHG TXDOLILHG WUDQVODWRU VSHFLDOLV
LQJ LQ WKH PHGLFDO DQG SKDUPDFHXWLFDO ILHOGV RZHYHU WKH HQG SURGXFW ZKHQ
VKRZQ RQ WKH VWDQG DW WKH HYHQW ZDV FULWLFLVHG E WKH DXGLHQFH :K HFDXVH
WKH IRUPDW RI WKH 77 GLG QRW UHIOHFW WKH VWDQGDUG IRU WKH W SH RI WH[W DQG IXQFWLRQ
UHTXLUHG LQ WKH WDUJHW 7KHUHIRUH LW GLG QRW PHHW WKH FXOWXUDO H[SHFWDWLRQV RI WKH
FOLHQW QRU RI WKH WDUJHW DXGLHQFH GHVSLWH WKH IDFW WKDW WKH 77 GLG QRW FRQWDLQ DQ
IDFWXDO LQDFFXUDFLHV LQ WKH LQIRUPDWLRQ FRQYH HG 7KH ODFN RI D SUHFLVH EULHI PD
DFFRXQW IRU WKH GLVSDULW EHWZHHQ WKH DFWXDO 77 DQG WKH FOLHQW V LGHDO RQH EXW
XQOHVV LQVWUXFWHG RWKHUZLVH WKH WUDQVODWRU ZRXOG SUHVXPDEO UHSOLFDWH WKH 67
IRUPDW DV FORVHO DV SRVVLEOH 7KLV FDVH FOHDUO VKRZV WKH LPSRUWDQFH RI NQRZ
LQJ WKH SXUSRVH DQG FRQWH[W RI WKH 77 DW WKH FRPPLVVLRQLQJ VWDJH DQG WKH YDOXH
RI DFFXUDWH LQVWUXFWLRQV DQG LW DOVR LOOXVWUDWHV KRZ H[SHFWDWLRQV PD QRW EH PHW
ZKHQ FRPPXQLFDWLRQV EHWZHHQ FOLHQW DQG WUDQVODWRU DUH LQHIIHFWLYH
7UDQVODWLRQV RI WH[WV WKDW KDYH EHHQ VFDQQHG IURP DQRWKHU GRFXPHQW RU LQ
VRPH UHDG RQO DQG SURWHFWHG IRUPDWV KDYH WR EH ZRUG SURFHVVHG IURP VFUDWFK
7KHUH PD HYHQ EH LOOHJLEOH PDWHULDO LQ VFDQQHG GRFXPHQWV PDNLQJ LW LPSRVVLEOH
IRU WHFKQLFDO UHDVRQV WR JHQHUDWH D IRUPDW LGHQWLFDO WR WKDW RI WKH 67 :KHUH WKH
WUDQVODWLRQ KDV D YHU WLJKW GHDGOLQH WKHUH PD EH LQVXIILFLHQW WLPH WR UHSURGXFH
D FRPSOLFDWHG WDEOH RU JUDSKLF ,Q IDFW LI WKH 67 LV VKRUW EXW QHHGV WR EH IRU
PDWWHG IURP VFUDWFK LQ WKH 77 IRU H[DPSOH D FRPSOH[ WDEOH WKH MRE PD QRW
EH FRVW HIIHFWLYH IRU WKH WUDQVODWRU DQG D EHWWHU UDWH VKRXOG EH QHJRWLDWHG WKDW
WDNHV LQWR FRQVLGHUDWLRQ WKH H[WUD WLPH QHHGHG IRU IRUPDWWLQJ 7UDQVODWLRQ UDWHV
DUH XVXDOO EDVHG RQ D ZRUG RU FKDUDFWHU FRXQW VR D VKRUW WH[W HYHQ RQH FRQWDLQ
LQJ VLJQLILFDQW IRUPDWWLQJ LQSXW PD RQO DWWUDFW D ORZ UDWH IRU WKLV UHDVRQ LW
LV FRPPRQ SUDFWLFH IRU WUDQVODWRUV WR DSSO D PLQLPXP FKDUJH IRU VKRUW WH[WV
UDWKHU WKDQ DFFHSW UHPXQHUDWLRQ EDVHG SXUHO RQ FKDUDFWHU RU ZRUG FRXQWV 7KH
WLPH DQG HIIRUW UHTXLUHG WR SURGXFH FRPSOH[ WDEOHV FKDUWV DQG WHPSODWHV VKRXOG
EH D IDFWRU LQ WKH UDWH
:KDW LV LPSRUWDQW LV WKDW WKH IHDVLELOLW RI UHSURGXFLQJ WKH IRUPDW LQ WKH 77
LV WDNHQ LQWR FRQVLGHUDWLRQ DW WKH FRPPLVVLRQLQJ VWDJH DQG WKDW DQ TXHULHV
DERXW IRUPDW DUH GHDOW ZLWK EHIRUH DFFHSWLQJ WKH MRE ,I GXH WR WHFKQLFDO RU WLPH
 H W D ODWLR D DO L
SUHVVXUH UHDVRQV WKHUH DUH OLNHO WR EH SUREOHPV D GLIIHUHQW VLPSOHU IRUPDW
FRXOG EH DJUHHG ZLWK WKH FOLHQW RU SURMHFW PDQDJHU EHIRUH VWDUWLQJ WKH MRE
7KH ZD 67 GLVFRXUVH LV SUHVHQWHG LV WR VRPH H[WHQW D IRUPDW LQ LWVHOI )RU
H[DPSOH D WH[W PD FRQVLVW RI VKRUW SDUDJUDSKV RU VHYHUDO VKRUW VHQWHQFHV IRO
ORZHG E ORQJ FRPSOH[ RQHV ,Q JHQHUDO D WUDQVODWRU ZLOO IROORZ WKH RULJLQDO
SUHVHQWDWLRQDO IHDWXUHV EXW WKHVH FDQ EH DOWHUHG LI GLUHFW UHSOLFDWLRQ IRU H[DPSOH
RI QRQ VWDQGDUG SDUDJUDSK XVH LQ WKH 67 LV OLNHO WR KDYH DQ DGYHUVH HIIHFW RQ
WKH DSSHDUDQFH FRKHVLRQ DQG FRKHUHQFH RI WKH 77 RU RQ WKH H[SHFWDWLRQV RI WKH
77 UHDGHUVKLS 6HQWHQFH VWUXFWXUH DQG SXQFWXDWLRQ DUH PRUH FRPSOH[ PDWWHUV DQG
ZLOO EH DGGUHVVHG HOVHZKHUH LQ WKLV ERRN

7DV

D )LQG D GRFXPHQW LQ KDUG FRS VXFK DV D ELUWK FHUWLILFDWH RU D XQLYHUVLW

WUDQVFULSW ZLWK GHWDLOV RI VXEMHFWV WDNHQ DQG PDUNV DZDUGHG 6FDQ LW
DQG FRQVLGHU WKH WH[W DV D WUDQVODWLRQ DVVLJQPHQW 7KH GRFXPHQW GRHV
QRW KDYH WR EH LQ (QJOLVK DQ ODQJXDJH ZLOO GR 7KH SRLQW RI WKLV H[HU
FLVH LV WR VHH KRZ IHDVLEOH RX WKLQN LW LV WR UHSURGXFH WKH IRUPDW RI WKH
GRFXPHQW WHFKQLFDOO ,PDJLQH KRZ ORQJ LW PLJKW WDNH RX WR SURGXFH
WKH IRUPDW WKHQ DGG RQ WKH H[SHFWHG WUDQVODWLRQ WLPH :KDW IHH GR RX
WKLQN ZRXOG EH DSSURSULDWH IRU WKH MRE IRUPDWWLQJ + WUDQVODWLRQ LQ RXU
7/ :KDW IDFWRUV ZRXOG RX FRQVLGHU ZKHQ QHJRWLDWLQJ D IHH IRU WUDQV
ODWLQJ D FHUWLILFDWH RU VHW RI DFFRXQWV
E RX KDYH EHHQ DVNHG WR WUDQVODWH DQ H[KLELWLRQ FDWDORJXH IURP (QJOLVK
LQWR RXU 7/ ZLWK WKH 67 DQG 77 WR EH SXEOLVKHG RQ IDFLQJ SDJHV 7KH
UHVXOWLQJ 77 LV OLNHO WR EH HLWKHU VXEVWDQWLDOO ORQJHU RU VKRUWHU WKDQ
WKH 67 GHSHQGLQJ RQ RXU ODQJXDJH FRPELQDWLRQ 6KRXOG WKH WUDQVOD
WRU VLPSO WUDQVODWH WKH 67 RU DWWHPSW WR DGDSW WKH 77 WR WKH OHQJWK RI
WKH 67

PP GV
/D D H LV LQWHQGHG KHUH DV WKH JUDPPDWLFDO DQG V QWDFWLF IHDWXUHV RI D WH[W L H
LWV VWUXFWXUH (QJOLVK LV D ODQJXDJH ZLWK UHODWLYHO OLWWOH IRUPDO JUDPPDU LQ IDFW D
GLIIHUHQWLDWLRQ FDQ EH PDGH EHWZHHQ VD WKH ZD WKH ODQJXDJH VKRXOG W HR HWL
FDOO EH IRUPHG DQG XVHG DQG V WKH ZD LW LV DFW DOO IRUPHG DQG XVHG :KLOH
WKLV GLVSDULW RFFXUV LQ DOO ODQJXDJHV WR VRPH H[WHQW GXH WR IRUPDO DQG LQIRUPDO
OHYHOV RI GLVFRXUVH LQ (QJOLVK WKH GLVSDULW EHWZHHQ XVDJH DQG XVH FDQ EH VLJQLIL
FDQW )RU H[DPSOH

H H D H PD HD R ZK , ZRXOG YLVLW )UDQFH

H H PD HD R ZK , ZRXOG YLVLW )UDQFH
 H W D ODWLR D DO L
SHUVRQ ZKRVH ILUVW ODQJXDJH LV QRW (QJOLVK EXW ZKR KDV D JRRG NQRZOHGJH
RI (QJOLVK JUDPPDU ZLOO UHFRJQLVH WKDW WKH ZRUGV LQ LWDOLFV LQ WKH ILUVW VHQWHQFH
DUH JUDPPDWLFDOO FRUUHFW ERWK WKH YHUE IRUP DQG QRXQ DUH SOXUDO ZKLOH WKH
JUDPPDU LQ WKH VHFRQG VHQWHQFH VLQJXODU YHUE IRUP DQG SOXUDO QRXQ LV LQFRU
UHFW RZHYHU WKH ODWWHU IRUP LV EHFRPLQJ LQFUHDVLQJO FRPPRQ DV VSHDNHUV RI
(QJOLVK ILQG ZD V WR FRQWLQXH VLPSOLI LQJ WKHLU ODQJXDJH H H LV D W SLFDO
IU L WHFKQLTXH LQ FROORTXLDO VSHHFK UHJDUGOHVV RI ZKHWKHU WKH LWHP UHIHUUHG
WR LV VLQJXODU RU SOXUDO DQG KDV SHQHWUDWHG HQYLURQPHQWV JHQHUDOO FRQVLGHUHG WR
UHIOHFW D PRUH FRUUHFW XVH RI (QJOLVK VXFK DV D & QHZV SURJUDPPH

7DV

&DQ RX WKLQN RI DQ FRQWH[W LQ ZKLFK WKH XQJUDPPDWLFDO IRUP LQ WKH H[DP

SOH DERYH FRXOG RU VKRXOG EH WUDQVSRVHG XQJUDPPDWLFDOO LQWR WKH 77
7KLV LV D JRRG SRLQW IRU DQDO VLV DQG GLVFXVVLRQ

:KLOH VSHDNHUV RI ODQJXDJHV ZLWK FRPSOH[ JUDPPDU DQG V QWD[ DUH QRUPDOO
WDXJKW WR OHDUQ DQG DSSO WKH IRUPDO DVSHFWV RI WKHLU ODQJXDJH RWKHUZLVH LW ZRXOG
QRW EH SRVVLEOH WR VSHDN RU ZULWH WKDW ODQJXDJH ZLWK DQ GHJUHH RI IOXHQF RU
FRKHUHQFH (QJOLVK JUDPPDU WHQGV QRW WR EH WDXJKW IRUPDOO 7KLV LV SDUWO GXH
WR WKH IDFW WKDW WKH JUDPPDWLFDO EDVLV RQ ZKLFK (QJOLVK KDV GHYHORSHG KDV EHHQ
HURGHG RYHU WKH FHQWXULHV LW LV OHDUQW PRUH E DVVLPLODWLRQ FRS LQJ DQG UHSHDW
LQJ SDWWHUQV RI VSHHFK H DV RSSRVHG WR DFTXLULQJ DQG DSSO LQJ IRUPDO UXOHV
D H ,Q SDUWLFXODU XQJUDPPDWLFDO IRUPV DUH XQGHUVWDQGDEO PRUH FXUUHQW LQ
FROORTXLDO VSHHFK DQG DFTXLUHG VSRQWDQHRXVO WKURXJK FRS LQJ H J R D
:KLOH LW LV XQGRXEWHGO WUXH WKDW LQ DOO ODQJXDJHV LQFRUUHFW IRUPV RFFXU GXH
WR LQVXIILFLHQW RU LQDFFXUDWH NQRZOHGJH DQG DSSOLFDWLRQ RI WKH PRWKHU WRQJXH
(QJOLVK LV SUREDEO RQH RI WKH PRVW DEXVHG ODQJXDJHV IURP WKH JUDPPDWLFDO
SRLQW RI YLHZ
FDVH LQ SRLQW LV WKH XVH DQG PLVXVH RI WKH JHQLWLYH DV LQ WKH IROORZLQJ
H[DPSOH

, KDYH UHDG WKH W GH W H D

, KDYH UHDG WKH W GH W H D
, KDYH UHDG WKH W GH W H D

,W LV SUREDEO IDLU WR VD WKDW LI WHQ SHRSOH LQ WKH VWUHHW ZHUH DVNHG WR LGHQWLI WKH
XQJUDPPDWLFDO IRUP V DQG WR H[SODLQ WKH GLIIHUHQFH EHWZHHQ WKHP OHVV WKDQ KDOI
ZRXOG EH DEOH WR GR VR 7KHVH JUH DUHDV RI JUDPPDU DUH QRW PHUHO FRQIXVLQJ
 H W D ODWLR D DO L
ZKHUH WKH 67 LV XQJUDPPDWLFDO PLVLQWHUSUHWDWLRQ FDQ DULVH ,Q WKH H[DPSOH DERYH
WKH VHFRQG IRUP PD EH JHQHUDWHG FRUUHFWO RU LQFRUUHFWO LI WKH ZULWHU LQWHQGHG
WKH JHQLWLYH WR EH VLQJXODU LW LV LQFRUUHFW WKHUHIRUH PLVOHDGLQJ DQG LV SUREDEO
D S UF UU F L WKH ZULWHU NQHZ WKHUH VKRXOG EH DQ DSRVWURSKH EXW GLG QRW
NQRZ ZKHUH 2Q WKH RWKHU KDQG WKH ZULWHU PD KDYH LQWHQGHG WR XVH WKH SOXUDO
JHQLWLYH ZLWK WKH VLQJXODU HVVD LPSO LQJ D SHFLILF HVVD GRQH E DOO WKH VWX
GHQWV EXW LI WKH LQWHQWLRQ ZDV WR XVH D VLQJXODU JHQLWLYH WKHQ WKH IRUP W GH W LV
REYLRXVO LQFRUUHFW 7KH WKLUG IRUP LV DOVR LQFRUUHFW DV WKH JHQLWLYH IRUP UHTXLUHV
DQ DSRVWURSKH LQ ERWK WKH VLQJXODU DQG SOXUDO IRUPV 7KLV H[DPSOH VKRZV WKDW
LQFRUUHFW JUDPPDWLFDO IRUPV FDQ FDXVH DPELJXLW DQG WKH FORVH FRQWH[W GRHV QRW
DOZD V FODULI WKH DPELJXLW
V UHJDUGV (QJOLVK V QWD[ WKH ORJLF DQG RUJDQLVDWLRQ RI VHQWHQFHV PDLQO
GHSHQG RQ ZRUG RUGHU DV WKH ODFN RI JUDPPDU PHDQV WKDW GLVFRXUVH LV RIWHQ
QRW FOHDUO VLJQSRVWHG 7KH VWDQGDUG ZRUG RUGHU RI D VLPSOH (QJOLVK VHQWHQFH
VXEMHFW YHUE GLUHFW REMHFW LQGLUHFW REMHFW ZKLOH FUHDWLQJ D ORJLFDO IUDPH
ZRUN LQ (QJOLVK PD EH OHVV FRPPRQ RU HYHQ XQFRPPRQ LQ RWKHU ODQJXDJHV
(QJOLVK GLVFRXUVH WKDW KDV EHHQ LQWHQWLRQDOO FUHDWHG WR EH VLPSOH IRU SXEOLF XVH
H J DGYLFH DQG LQIRUPDWLRQ SURGXFHG E D ORFDO FRXQFLO IRU UHVLGHQWV PD WXUQ
RXW WR EH FKDOOHQJLQJ WR WUDQVODWH LQWR DQRWKHU ODQJXDJH SUHFLVHO EHFDXVH WKH WH[W
LV VLPSOLVWLF DQG UHSOLFDWLQJ WKH VDPH UHJLVWHU LQ WKH 7/ ZRXOG EH LQDSSURSULDWH LQ
WHUPV RI VW OH DQG ZULWLQJ FRQYHQWLRQV 7KLV PD LQ WXUQ JHQHUDWH SUREOHPV ZLWK
WH[W OHQJWK VHH )R PDW DERYH
,W LV LPSRUWDQW IRU D WUDQVODWRU WR LGHQWLI ZKHQ DQG ZKHUH D ZULWHU KDV GHYL
DWHG IURP VWDQGDUG JUDPPDU RU V QWD[ DQG ZK 6SOLWWLQJ DQ LQILQLWLYH DV LQ WR
EROGO JR ZDV D PDVWHU VWURNH RQ WKH SDUW RI WKH ZULWHUV RI WD HN :RXOG WKH
VHULHV KDYH EHHQ VXFK D KLW LI WKH KDG REH HG WKH FRQYHQWLRQV DQG VDLG 7R JR
EROGO ZKHUH QR PDQ KDV JRQH EHIRUH
,Q OLWHUDU RU DGYHUWLVLQJ WH[WV ZULWHUV VRPHWLPHV GHOLEHUDWHO IORXW RWKHU
XQZULWWHQ UXOHV VXFK DV WKRVH WKDW JRYHUQ F OO FD L V ZRUGV JHQHUDOO XVHG
LQ FRPELQDWLRQ :KHQ D QRXQ LV XVHG ZLWK DQ XQXVXDO YHUE RU DGMHFWLYH VXFK
DV WKH SDLQWHU SRHW SROOLQDLUH V LPDJH RI D EHKHDGHG VXQ LQ WKH )UHQFK
RULJLQDO WKLV DSSHDUHG DV VROHLO FRX FRXSp RU ZKHQ D YHUE LV PDWFKHG ZLWK
D QRQ VWDQGDUG DGYHUE WKH WUDQVODWRU PD GHFLGH WR RSW IRU D OLWHUDO WUDQVODWLRQ
LQ RUGHU WR UHPDLQ IDLWKIXO WR WKH DXWKRU V LQWHQWLRQV 7KH YHUEV WKDW XVXDOO
DSSHDU LQ FRPELQDWLRQ RU FROORFDWLRQ ZLWK WKH QRXQ ERRN IRU H[DPSOH DUH
UHDG EX ERUURZ ZULWH HGLW RU SXEOLVK EXW EXU LQJ ERRNV ZRXOG
EH DQ XQXVXDO FROORFDWLRQ SRVVLEOH FRQWH[W LQ ZKLFK WKH YHUE WR EXU
PLJKW EH FRPELQHG ZLWK WKH QRXQ ERRN FRXOG EH IRU D WLPH FDSVXOH EXULHG
IRU WKH EHQHILW RI IXWXUH JHQHUDWLRQV &ROORFDWLRQ LV RQH RI WKH PRVW FRPPRQ
WUDQVODWLRQ FKDOOHQJHV
7KH LVVXH RI 67 TXDOLW ZLOO EH H[SORUHG LQ PRUH GHWDLO ODWHU RQ LQ WKH ERRN
ZLWK SDUWLFXODU UHIHUHQFH WR WKH FKDOOHQJHV WKDW SRRUO ZULWWHQ RU GHIHFWLYH 67V
UHSUHVHQW IRU WUDQVODWRUV
 H W D ODWLR D DO L

7DV

D (QJOLVK JUDPPDU FDQ EH VWUHWFKHG WR WKH OLPLW WDNH WKH IROORZLQJ H[DP
SOH IURP WKH WHOHYLVLRQ DGYHUW RI D PRQH FRPSDULVRQ ZHEVLWH RX
DUH R 0RQH 6XSHUPDUNHW ZLWK D VWURQJ YRFDO VWUHVV RQ VR )LUVW
H[SODLQ ZK WKLV XVH RI VR LV XQJUDPPDWLFDO DQG KRZ LW LV QRUPDOO
XVHG JLYH DQ H[DPSOH 7KHQ VD ZK RX WKLQN WKH FUHDWRU RI WKH DGYHUW
DGRSWHG WKLV IRUP DQG ZK WKH LQFRUUHFW XVH RI VR KDV EHFRPH SRSXODU
LQ FROORTXLDO VSHHFK )LQDOO LI RX ZHUH DVNHG WR WUDQVSRVH WKLV SKUDVH
LQWR RXU 7/ IRU WKH FRPSDULVRQ ZHEVLWH ZKDW LPSOLFDWLRQV ZRXOG WKH
XQJUDPPDWLFDO IRUP KDYH LI DQ IRU WUDQVODWLRQ LQWR RXU 7/
E QRWKHU H[DPSOH RI VWUHWFKLQJ WKH ERXQGDULHV RI (QJOLVK JUDPPDU FDQ
EH VHHQ LQ WKH 0F RQDOG V EX]] SKUDVH , P ORYLQJ LW :K LV WKLV
IRUP WHFKQLFDOO QRQ VWDQGDUG LQ (QJOLVK :K GR RX WKLQN LW PLJKW
KDYH EHHQ FKRVHQ IRU DGYHUWLVLQJ SXUSRVHV ,Q RXU H[SHULHQFH KDV WKLV
XVH RI WKH SUHVHQW FRQWLQXRXV IRUP KDG DQ HIIHFW RQ FXUUHQW GLVFRXUVH
SDWWHUQV LQ (QJOLVK

LV G OL LV LF LV
7KHVH IHDWXUHV IRUP WKH EHGURFN RI WKH WUDQVODWLRQ DQDO VLV DQG SURFHVV 7KH VXE
MHFW PDWWHU JHQUH DQG IRUPDW DUH DOO VLJQLILFDQW HOHPHQWV LQ HVWDEOLVKLQJ WKH VFRSH
DQG QDWXUH RI WKH WUDQVODWLRQ WDVN EXW LW LV WKH ZRUGV WKHPVHOYHV WKDW DUH WKH EXLOG
LQJ EORFNV RI WKH 67 7KHUH DUH VHYHUDO GHILQLWLRQV RI OL L WLF H L WH RU VLPSO
H L WH EXW PRVW LQYROYH WZR IXQGDPHQWDO DVSHFWV D YDULHW RI ODQJXDJH XVHG
IRU D SDUWLFXODU SXUSRVH RU XVHG LQ D VSHFLILF VRFLDO VHWWLQJ OHYHO RI IRUPDOLW
2QH NH DVSHFW RI UHJLVWHU DORQJ ZLWK WKH ILHOG RI GLVFRXUVH VHH EMHFW PDW
WH LV WKH U RU RI WKH GLVFRXUVH ZKLFK ZLOO UHIOHFW WKH UHODWLRQVKLS
EHWZHHQ WKH ZULWHU DQG WKH UHDGHU 0RQD DNHU GHILQHV WHQRU DV Q
DEVWUDFW WHUP IRU WKH UHODWLRQVKLSV EHWZHHQ SHRSOH WDNLQJ SDUW LQ WKH GLVFRXUVH
7KLV GHILQLWLRQ ZDV EDVHG RQ 0LFKDHO DOOLGD V FRQFHSW RI 6 VWHPLF )XQFWLRQDO
UDPPDU VHH DOOLGD 0 ZLWK & 0 , 0 0DWWKLHVVHQ W RG FWLR WR
) FWLR DO DPPD UG HG /RQGRQ (GZDUG UQROG
4XHVWLRQV UHODWHG WR WHQRU WKDW FRXOG EH DVNHG LQ WKH 67 DQDO VLV DUH ,V WKH UHJLVWHU
SHUVRQDO RU LPSHUVRQDO IRUPDO RU LQIRUPDO RZ SROLWH LV LW RZ DFFHVVLEOH LV LW
7KHVH TXHVWLRQV FRUUHVSRQG ZLWK WKH IRXU VFDOHV FRPPRQO XVHG WR DFFHVV WKH WHQRU
RU WRQH RI D WH[W ZKLFK DUH I UPDOL S OL VV LPS UV DOL DQG DFF VVLELOL
7KH RWKHU DVSHFW RI UHJLVWHU WR EHDU LQ PLQG LV WKH P G I GLVF UV ZKLFK
DNHU GHILQHV DV Q DEVWUDFW WHUP IRU WKH UROH WKDW ODQJXDJH LV SOD LQJ VSHHFK
HVVD OHFWXUH LQVWUXFWLRQV DQG IRU LWV PHGLXP RI WUDQVPLVVLRQ VSRNHQ ZULW
WHQ DNHU 0RGH RI GLVFRXUVH FDQ EH VHHQ DV GHVFULELQJ WKH FKDQQHOV
WKURXJK ZKLFK ODQJXDJH LV GHOLYHUHG DQG FDQ DOVR LQFOXGH YLVXDO FKDQQHOV LPDJHV
VLJQV RU V PEROV DQG WDFWLOH FKDQQHOV WRXFK
 H W D ODWLR D DO L
3OD V DQG VSHHFKHV IRU H[DPSOH DUH ZULWWHQ WR EH VSRNHQ EXW DUH LQ PDQ
ZD V FORVHU WR VSRNHQ ODQJXDJH VR WKH QHHG WR VRXQG DV VSRQWDQHRXV DV SRVVLEOH
LDULHV ZLOO OLNHZLVH VRXQG VSRQWDQHRXV DQG SDUW RI WKHLU DELOLW WR VXUYLYH RYHU
WLPH FDQ EH DWWULEXWHG WR WKH XVH RI WKH ILUVW SHUVRQ SURQRXQ ZKLFK FUHDWHV D VHQVH
RI LPPHGLDF /HFWXUHV RQ WKH RWKHU KDQG DUH OLNHO WR VRXQG HUXGLWH DQG KDYH D
FHUWDLQ JUDYLWDV EXW DW WKH VDPH WLPH WKH PD FRQWDLQ VRPH PRUH LQIRUPDO HOH
PHQWV VR WKDW WKH DYHUDJH VWXGHQW FDQ IROORZ WKH OHFWXUHU V DUJXPHQW
7KH PRGH RI GLVFRXUVH LV RIWHQ GHVFULEHG E XVLQJ WKH FULWHULRQ RI SUL D
VV ZKLFK PHDVXUHV KRZ UHVWULFWHG WKH UHDGHUVKLS LV )RU H[DPSOH WKHUH LV D
KLJK GHJUHH RI SULYDWHQHVV LQ D KRXVH MRXUQDO ZULWWHQ H[FOXVLYHO IRU D FRPSDQ V
HPSOR HHV ZKLFK FRXOG EH UHIOHFWHG LQ WKH XVH RI MDUJRQ VSHFLILF WR WKH LQGXVWU
LQ TXHVWLRQ HW LW LV QRW XQFRPPRQ IRU H[DPSOH IRU D SKDUPDFHXWLFDO FRPSDQ
ZLWK EUDQFKHV LQ ERWK (XURSH DQG WKH 86 WR FRPPLVVLRQ D WUDQVODWLRQ RI DQ DUWL
FOH IURP D QDWLRQDO QHZVSDSHU ZLWK D KXJH FLUFXODWLRQ HVSHFLDOO LI WKH FRPSDQ V
SURGXFWV DUH PHQWLRQHG LQ WKH DUWLFOH 7KH UHDGHUVKLS RI WKH UHVXOWLQJ 77 PD EH
OLPLWHG WR WKH PHPEHUV RI WKH ERDUG RI GLUHFWRUV EXW WKH WUDQVODWRU ZLOO VWLOO QHHG
WR FRQVLGHU VRPH RU DOO RI WKH DERYH DVSHFWV RI UHJLVWHU YHU FDUHIXOO DQG DYRLG
DQ VXVSLFLRQ RI UD VOD U L U VL
7KH WHUP OH L XVXDOO UHIHUV WR WKH WRWDO YRFDEXODU RI D JLYHQ ODQJXDJH RU
WH[W 7KH GLVWLQFWLRQ EHWZHHQ OH[LV DQG UHJLVWHU LV LPSRUWDQW ZKHQ DQDO VLQJ DQ
67 :RUGV DORQH GR QRW SURGXFH PHDQLQJ LQ FRQWH[W LW LV RQO ZKHQ ZRUGV
DUH FRPELQHG LQWR UHFRJQLVDEOH VHTXHQFHV WKDW WKH GLVFRXUVH EHFRPHV PHDQLQJ
IXO :RUG IRU ZRUG WUDQVODWLRQ DOVR FDOOHG OLWHUDO WUDQVODWLRQ WHQGV WR SURGXFH
VHTXHQFHV RI OH[LFDO XQLWV WKDW DUH QRW PHDQLQJIXO FRKHUHQW FRQWH[W LV RQO
FUHDWHG ZKHUH WKH VHTXHQFHV IROORZ WKH UXOHV DQG FRQYHQWLRQV RI WKH 7/ V JUDP
PDU DQG V QWD[ DQG ZKHUH WKH FRQIRUP WR WKH 7/ UHDGHUVKLS V H[SHFWDWLRQV RI
VHQWHQFH VWUXFWXUH GLVFRXUVH SDWWHUQV DQG RUJDQLVDWLRQ
0RUHRYHU UHFRJQLVLQJ WKDW WKH ZRUGV IRUPLQJ WKH GLVFRXUVH EHORQJ WR D VRFLDO
RU SURIHVVLRQDO VHWWLQJ KHOSV WR EXLOG D SLFWXUH RI WKH FRQWH[W 7KH UHJLVWHU PD
YDU IURP RQH XWWHUDQFH WR WKH QH[W IRU H[DPSOH LQ D GLDORJXH RQH SHUVRQ PLJKW
XVH D KLJK IRUPDO UHJLVWHU ZKLOH WKH RWKHU PD XVH D ORZ LQIRUPDO UHJLVWHU
&RQVLGHU D FRXUW FDVH ZKHUH WKH MXGJH DQG SURVHFXWLRQ GHIHQFH WHDPV XVH OHJDO
ODQJXDJH DQG FRQFHSWV ZKLOH D ZLWQHVV RU GHIHQGDQW LV PRUH OLNHO WR XVH D VSRQ
WDQHRXV PRGH RI H[SUHVVLRQ 2Q WKH RWKHU KDQG DQ H[SHUW ZLWQHVV FDOOHG WR JLYH
D SURIHVVLRQDO RSLQLRQ RQ DQ DVSHFW UHODWLQJ WR WKH FDVH ZLOO XVH D VSHFLDOLVW UHJ
LVWHU W SLFDO RI WKH SURIHVVLRQ KH RU VKH UHSUHVHQWV ZKLFK PD EH LQWHUVSHUVHG
ZLWK H[SODQDWLRQV SDUDSKUDVHV DQG VR RQ ,Q RWKHU ZRUGV WKH ODQJXDJH PD EH
VRIWHQHG VR WR VSHDN VR WKDW QRQ VSHFLDOLVWV VXFK DV PHPEHUV RI WKH MXU FDQ
XQGHUVWDQG WKH LVVXHV ,W LV WKH ZLWQHVV QRW WKH WUDQVODWRU ZKR GRHV WKH VRIWHQLQJ
5HJLVWHU PD YDU ZLWKLQ WKH VDPH WH[W IURP JHQHUDO GLVFRXUVH WR KLJKO WHFK
QLFDO RU OLWHUDU ODQJXDJH 7H[WV ZLWK K EULG UHJLVWHUV DUH FRPPRQ IRU H[DPSOH
WDNH D QHZVSDSHU DUWLFOH RQ DQ LPPLQHQW JHQHUDO HOHFWLRQ 7KH ZRUGV XVHG WR
GHVFULEH WKH VHWWLQJ DQG EDFNJURXQG PD EH XQH[FHSWLRQDO DQG JHQHULF EXW WKHUH
DUH OLNHO WR EH WHUPV UHODWLQJ VSHFLILFDOO WR SROLWLFV DQG TXRWHV IURP FDQGLGDWHV
VWDQGLQJ IRU HOHFWLRQ WKDW IHDWXUH SROLWLFDO MDUJRQ SHUVXDVLYH DQG SKDWLF ODQJXDJH
 H W D ODWLR D DO L
DQG FROORTXLDO H[SUHVVLRQV &OHYHU ZULWHUV DQG VSHHFK ZULWHUV ZLOO RIWHQ LQFOXGH
D UDQJH RI UHJLVWHUV RU XVH D VRSKLVWLFDWHG ZRUG ZLWK D V QRQ P WR GHPRQVWUDWH
WKDW WKH DUH ZHOO HGXFDWHG EXW DW WKH VDPH WLPH WKH ZLOO NQRZ KRZ WR DSSHDO WR
D ZLGHU PDVV DXGLHQFH )RU H[DPSOH LQ D VSHHFK KH JDYH DIWHU /RQGRQ KDG EHHQ
FKRVHQ WR KRVW WKH 2O PSLFV 7RQ ODLU VDLG

(YHU WKLQJ OHDGV WR DQG F OPL DWH LQ D JORULRXV IHVWLYDO RI VSRUW IRU
2O PSLDQV DQG 3DUDO PSLDQV XW LW FDQQRW H G WKHUH
H D GLD -DQXDU

,Q WKLV H[DPSOH WKH PRUH VRSKLVWLFDWHG F OPL DWH LV UHLQIRUFHG E WKH XVH RI WKH
V QRQ P H G VR WKDW OLVWHQHUV RU UHDGHUV FRXOG IROORZ ZKDW 7RQ ODLU ZDV WU
LQJ WR VD ,W DOVR KHOSV WR DYRLG UHSHWLWLRQ DQG PDNH WKH WH[W IORZ EHWWHU ,Q VRPH
ODQJXDJH DUHDV VXFK DV )UDQFH KLJK VFKRRO VWXGHQWV DUH WDXJKW WR XVH HOHJDQW
YDULDWLRQ LQ RWKHU ZRUGV WR FKRRVH D V QRQ P UDWKHU WKDQ UHSHDW D ZRUG LQ
WKHLU HVVD V EHFDXVH WKLV LV FRQVLGHUHG WR EH JRRG VW OH RZHYHU LQ D SDWHQW RU
D ODZ WKH ODFN RI FRQVLVWHQW OH[LV PD OHDG WR FRQIXVLRQ DQG PLJKW UHVWULFW WKH
VFRSH RI WKH GRFXPHQW RU LQVWUXPHQW RU HYHQ PHDQ WKDW OHJDO SURWHFWLRQ LV QRW
SURYLGHG IRU DV PDQ YDULDQWV RI D SURGXFW RU SURFHVV DV ZDV LQWHQGHG WHFKQL
FDO ZULWHU PLJKW IRU H[DPSOH XVH WZR GLIIHUHQW WHUPV VKRFN DEVRUELQJ GHYLFH
DQG GDPSLQJ GHYLFH EXW WKH WUDQVODWRU QHHGV WR GHWHUPLQH ZKHWKHU RU QRW WKHVH
UHIHU WR WKH VDPH SLHFH RI DSSDUDWXV 2QH SRVVLEOH ZD WR GR WKLV LV WR FKHFN DQ
DFFRPSDQ LQJ GLDJUDPV

RL WH W DW LGH WLI D IR PDO H L WH

,Q D IRUPDO UHSRUW WKH ZULWHU ZLOO DGRSW DQ LPSHUVRQDO WRQH ZLWK PRUH FRPSOH[
VHQWHQFH VWUXFWXUHV DQG XVH WKH LPSHUVRQDO SURQRXQ LW /LNHZLVH D SLHFH RI IRU
PDO ZULWLQJ PD LQFOXGH LQVWDQFHV RI WKH SDVVLYH YRLFH VXFK DV SODJLDULVP LV QRW
SHUPLWWHG D VWDWHPHQW ZKLFK XVXDOO DSSHDUV LQ LQVWUXFWLRQV UHODWLQJ WR VWXGHQW
FRXUVHZRUN 7KH SDVVLYH YRLFH LV HDV WR LGHQWLI EHFDXVH LW LV DOZD V PDGH XS
RI VRPH SDUW RI WKH YHUE WR EH VXFK DV LV DUH ZDV ZHUH RU ZLOO EH DQG
WKH SDVW SDUWLFLSOH ZKLFK XVXDOO HQGV LQ HG EXW VRPHWLPHV LQ DQRWKHU OHWWHU VXFK
DV Q HQ RU W DV LQ WKH FDVH RI DUH LQGLFDWHG FDQ EH VHHQ DUH VKRZQ ZDV
VKRW HWF VFLHQWLVW SUHVHQWLQJ UHVHDUFK UHVXOWV ZLOO XVH WKH SDVVLYH DV WKLV WHQGV
WR EH WKH DFFHSWHG VW OH
5HSRUWHG RU LQGLUHFW VSHHFK VXFK DV KH VDLG WKDW KH ZRXOG EH DUULYLQJ WKH
QH[W GD LV JHQHUDOO PRUH FRPPRQ LQ IRUPDO ZULWLQJ ZKLOH GLUHFW VSHHFK ZLWK
WKH VSHDNHU V ZRUGV HQFORVHG ZLWKLQ LQYHUWHG FRPPDV VXFK DV , OO EH DUULYLQJ
WRPRUURZ KH VDLG LV PRUH LQIRUPDO

RL WH W DW L GLFDWH L IR PDO OD D H
,Q DUWLFOHV IRU WKH WDEORLG DQG SRSXODU SUHVV ZULWHUV WHQG WR XVH DFWL H H E DQG
GL HFW SHHF 7KH KDYH OHDUQW WR DYRLG WKH SDVVLYH YRLFH ZKHUH SRVVLEOH EHFDXVH
LW VORZV GRZQ WKH SDFH DQG PDNHV DQ DUWLFOH OHVV HDV WR UHDG
 H W D ODWLR D DO L
1HZVSDSHU KHDGOLQHV DUH JHQHUDOO ZULWWHQ E VXE HGLWRUV ZKR IUHTXHQWO
DGRSW DQ LQIRUPDO VW OH WR PDNH WKH UHSRUWV PRUH H H FDWFKLQJ 7KH RIWHQ SXW
LQ D SXQ RU SOD RQ ZRUGV W SLFDO H[DPSOH ZDV D UHSRUW ZLGHO UHIHUUHG WR
DV 7KH UHDW 7UDLQ 6QREEHU DERXW DQ LQFLGHQW LQ 2FWREHU LQYROYLQJ D
&DELQHW 0LQLVWHU ZKR ZDV IRXQG WUDYHOOLQJ LQ ILUVW FODVV RQ D VHFRQG FODVV WLFNHW
7KH H[SUHVVLRQ ZKLFK ZDV DQ DOOXVLRQ WR WKH LQIDPRXV UHDW 7UDLQ 5REEHU LQ
RULJLQDWHG RQ 7ZLWWHU VRPH VRXUFHV FUHGLWHG LW WR 7RP 6WHYHQVRQ ZKLOH
RWKHUV DUH FRQYLQFHG LW ZDV 0DUWLQ 6KDSODQG 6RPH SXQV DUH QRW DOZD V HDV WR
LGHQWLI EHFDXVH WKH DUH EDVHG RQ UD OL LV LF U I U F V DQG D WUDQVODWRU
ZLOO ILUVW QHHG WR GLVFRYHU ZKDW WKH UHIHUHQFH FRQFHUQV EHIRUH DWWHPSWLQJ WR ILQG
D VXLWDEOH WUDQVODWLRQ
Q DUWLFOH IURP D WDEORLG QHZVSDSHU DLPHG DW D ZLGH UHDGHUVKLS ZLOO RIWHQ WR
VWLFN WR VLPSOH V QWD[ DQG VKRUWHU VHQWHQFHV ZLWK IHZHU FRQQHFWLYHV DQG DYRLG
ORQJ ZRUGV VLPLODU WRSLF IURP D EURDGVKHHW VXFK DV H D GLD RU H DLO
HOH DS PD QRW EH DFFHVVLEOH WR VR PDQ SHRSOH EXW LV PRUH OLNHO WR EH WKH
VRXUFH RI D WUDQVODWLRQ FRPPLVVLRQ WKDQ D SLHFH IURP D WDEORLG QHZVSDSHU
,QIRUPDO ODQJXDJH LQFOXGHV FRQWUDFWLRQV VXFK DV GRQ W FDQ W ZRQ W DQG
VR RQ 7KHVH DUH RIWHQ IRXQG LQ SUHVV DUWLFOHV FRQWDLQLQJ TXRWHV IURP H HZLWQHVVHV
WR DQ LQFLGHQW RU HYHQW LQ ZKLFK WKH GLUHFW VSHHFK KDV EHHQ FLWHG ZRUG IRU ZRUG
,Q D TXDOLW GDLO QHZVSDSHU LW LV FRPPRQ IRU D IRUPDO UHJLVWHU WR EH XVHG IRU
UHSRUWLQJ IDFWV DQG LQIRUPDWLRQ FRQWUDVWLQJ ZLWK WKH PRUH LQIRUPDO UHJLVWHU RI
GLUHFW VSHHFK 7KH WUDQVODWRU KDV WR UHFRJQLVH VXFK GLIIHUHQFHV LQ UHJLVWHU DQG EH
DEOH WR UHQGHU WKHP DSSURSULDWHO LQ WKH 7/
QRWKHU NH IHDWXUH RI LQIRUPDO (QJOLVK LV WKH XVH RI S UDVDO UEV VXFK
DV EULQJ XS FKHFN LQ SLQ GRZQ RU JLYH XS ,Q SXEOLFDWLRQV LQWHQGHG IRU D
PRUH VRSKLVWLFDWHG RU D KLJKO HGXFDWHG SXEOLF UHDGHUVKLS WKH ZULWHUV ZRXOG WHQG
WR SUHIHU WKH KLJKHU UHJLVWHU HTXLYDOHQWV RI WKHVH ZRUGV VXFK DV PHQWLRQ UHJ
LVWHU GHWHUPLQH DQG DEDQGRQ ,Q ILFWLRQ RQ WKH RWKHU KDQG DQG HVSHFLDOO LQ
GLDORJXH WKH WUDQVODWRU LV OLNHO WR HQFRXQWHU SKUDVDO YHUEV QRWKHU SRLQWHU WKDW
LQGLFDWHV LQIRUPDO ODQJXDJH LV WKH XVH RI FROORTXLDO SKUDVHV RU LGLRPV VXFK DV WR
EORZ D WKHRU RXW RI WKH ZDWHU LQVWHDG RI WR GLVFUHGLW D WKHRU 7KH WUDQVODWRU
ZLOO QHHG WR LGHQWLI ZKHWKHU DQ HTXLYDOHQW H[SUHVVLRQ H[LVWV LQ WKH 7/ DQG LI QRW
WR GHFLGH ZKHWKHU WR XVH D VHQVH WUDQVODWLRQ ZKLFK PD UHVXOW LQ SDUDSKUDVH RU
DQRWKHU H[SUHVVLRQ ZLWK WKH VDPH PHDQLQJ EXW IRUPXODWHG XVLQJ D GLIIHUHQW W SH
RI LPDJHU
7KH P G I DGGU VV ZLOO DOVR LQGLFDWH WKH OHYHO RI IRUPDOLW ZLWK WKH VHFRQG
SHUVRQ IRUPV RX RU RXU EHLQJ PRUH LQIRUPDO WKDQ WKH WKLUG SHUVRQ DV RX
DGGUHVVHV WKH UHDGHU GLUHFWO (QJOLVK LV D ODQJXDJH WKDW WHQGV WR UHDFK RXW WR WKH
UHDGHUV DQG VHHNV WR FDSWXUH WKHLU DWWHQWLRQ WKURXJK D GLUHFW DSSURDFK KRZHYHU WKH
VDPH FDQQRW EH VDLG RI RWKHU ODQJXDJHV VRPH RI ZKLFK W SLFDOO XVH D KLJKHU DQG
PRUH LPSHUVRQDO UHJLVWHU 7KHUHIRUH WKH WUDQVODWRU PXVW LGHQWLI WKH OHYHO RI IRUPDO
LW RU LQIRUPDOLW DQG IROORZ WKH 7/ FRQYHQWLRQV FRQFHUQLQJ WKH PRGH RI DGGUHVV
QDO VLV RI OH[LV DQG OLQJXLVWLF UHJLVWHU HQDEOHV WKH WUDQVODWRU WR LGHQWLI OH[LFDO
DQG FRQFHSWXDO UHVRXUFHV WKDW FRXOG EH XVHIXO IRU UHVHDUFKLQJ YRFDEXODU VXLWHG
WR WKH FRQWH[W 5HIHUHQFH KDV DOUHDG EHHQ PDGH WR PRGHO WH[WV PHDQLQJ 7/ WH[WV
ZLWK VLPLODU IHDWXUHV WR WKRVH RI WKH 67 LQ WHUPV RI VXEMHFW PDWWHU UHJLVWHU DQG
 H W D ODWLR D DO L
OH[LV ,I WH[WV FDQ EH IRXQG WKDW KDYH JRRG PDWFKLQJ IHDWXUHV WKHQ WKH FDQ JXLGH
VRPH OH[LFDO FKRLFHV LQ WKH 7/ :KHUH WKH 67 LV KLJKO WHFKQLFDO RU VSHFLDOLVW
LW PD EH SRVVLEOH WR ILQG FORVH PDWFKHV EXW RIWHQ WKHUH LV RQO D SDUWLDO RYHUODS
EHWZHHQ WKH 67 DQG D SRWHQWLDO PRGHO WH[W HVSLWH WKLV HYHQ ILQGLQJ MXVW RQH
JRRG OH[LFDO PDWFK VXFK DV D NH ZRUG FDQ EH D GLVWLQFW DGYDQWDJH

7DV

7KH IROORZLQJ WH[W LV DQ DEVWUDFW IURP WKH RQOLQH MRXUQDO HOO

D ,GHQWLI WKH OLQJXLVWLF UHJLVWHU V RI WKH WH[W
E 6XJJHVW D UHDGHUVKLS IRU WKH 67 DQG GHVLJQ D WUDQVODWLRQ EULHI IRU WKH 77
F )LQG D VXLWDEOH PRGHO WH[W IRU WKH WUDQVODWLRQ RZ ZRXOG RX JR DERXW WKLV
G :KDW FKDOOHQJHV DULVH LQ WHUPV RI OH[LV DQG UHJLVWHU LQ WKLV WH[W

,Q DWKHURVFOHURVLV WKH DFFXPXODWLRQ RI DSROLSRSURWHLQ OLSRSURWHLQV

LQ WKH PDWUL[ EHQHDWK WKH HQGRWKHOLDO FHOO OD HU RI EORRG YHVVHOV OHDGV WR
WKH UHFUXLWPHQW RI PRQRF WHV WKH FHOOV RI WKH LPPXQH V VWHP WKDW JLYH
ULVH WR PDFURSKDJHV DQG GHQGULWLF FHOOV 0DFURSKDJHV GHULYHG IURP
WKHVH UHFUXLWHG PRQRF WHV SDUWLFLSDWH LQ D PDODGDSWLYH QRQ UHVROYLQJ
LQIODPPDWRU UHVSRQVH WKDW H[SDQGV WKH VXEHQGRWKHOLDO OD HU GXH WR WKH
DFFXPXODWLRQ RI FHOOV OLSLG DQG PDWUL[ 6RPH OHVLRQV VXEVHTXHQWO
IRUP D QHFURWLF FRUH WULJJHULQJ DFXWH WKURPERWLF YDVFXODU GLVHDVH
LQFOXGLQJ P RFDUGLDO LQIDUFWLRQ VWURNH DQG VXGGHQ FDUGLDF GHDWK

6RXUFH 0DFURSKDJHV LQ WKH SDWKRJHQHVLV RI DWKHURVFOHURVLV . - 0RRUH

DQG , 7DEDV HOO 9RO ,VVXH

7DV

7KH IROORZLQJ WH[W LV IURP WKH DUWLFOH :KDW LV DWKHURVFOHURVLV XSGDWHG LQ

6HSWHPEHU ZKLFK DSSHDUHG RQ WKH ZHEVLWH RI WKH 1DWLRQDO HDUW /XQJ
DQG ORRG ,QVWLWXWH 1,

D ,GHQWLI WKH OLQJXLVWLF UHJLVWHU V RI WKH WH[W

E 6XJJHVW D UHDGHUVKLS IRU WKH 67 DQG GHVLJQ D WUDQVODWLRQ EULHI IRU WKH 77
F :RXOG RX QHHG D PRGHO WH[W IRU WKH WUDQVODWLRQ RU ZRXOG D JRRG ELOLQ
JXDO GLFWLRQDU EH VXIILFLHQW LQ RXU RSLQLRQ
G &RPSDUH WKH FKDOOHQJHV IDFLQJ WKH WUDQVODWRU LQ ERWK WH[WV
 H W D ODWLR D DO L
7

WKHURVFOHURVLV LV D GLVHDVH LQ ZKLFK SODTXH EXLOGV XS LQVLGH RXU

DUWHULHV UWHULHV DUH EORRG YHVVHOV WKDW FDUU R[ JHQ ULFK EORRG WR RXU
KHDUW DQG RWKHU SDUWV RI RXU ERG 3ODTXH LV PDGH XS RI IDW FKROHVWHURO
FDOFLXP DQG RWKHU VXEVWDQFHV IRXQG LQ WKH EORRG 2YHU WLPH SODTXH
KDUGHQV DQG QDUURZV RXU DUWHULHV 7KLV OLPLWV WKH IORZ RI R[ JHQ ULFK
EORRG WR RXU RUJDQV DQG RWKHU SDUWV RI RXU ERG WKHURVFOHURVLV FDQ
OHDG WR VHULRXV SUREOHPV LQFOXGLQJ KHDUW DWWDFN VWURNH RU HYHQ GHDWK
WKHURVFOHURVLV FDQ DIIHFW DQ DUWHU LQ WKH ERG LQFOXGLQJ DUWHULHV LQ
WKH KHDUW EUDLQ DUPV OHJV SHOYLV DQG NLGQH V V D UHVXOW GLIIHUHQW
GLVHDVHV PD GHYHORS EDVHG RQ ZKLFK DUWHULHV DUH DIIHFWHG

6 OLV LF V
Q DXWKRU V ZD RI ZULWLQJ FDQ VRPHWLPHV EH LGHQWLILHG IURP FHUWDLQ LGLRV QFUD
VLHV LQ WKH ZRUN WKDW PDNH LW UHFRJQLVDEOH 7KH DXWKRU V LGLROHFW FDQ EH VHHQ IRU
H[DPSOH LQ WKH FKRLFH RI ZRUGV DQG VHQWHQFH VWUXFWXUH ILJXUDWLYH ODQJXDJH WRQH
DQG HYHQ SXQFWXDWLRQ 7KHVH VW OLVWLF IHDWXUHV DUH SDUWLFXODUO QRWLFHDEOH LQ ILFWLRQ
DQG SRHWU
)LJXUHV RI VSHHFK VXFK DV DOOL UD L DQG DVV D F DUH RIWHQ XVHG LQ WKH
WLWOHV RI ILOPV ERRNV DQG 79 SURJUDPPHV WR FDSWXUH WKH UHDGHU V RU DXGLHQFH V
DWWHQWLRQ OOLWH DWLR LV WKH XVH RI ZRUGV EHJLQQLQJ ZLWK WKH VDPH FRQVRQDQW DV
LQ WKH 79 SURJUDPPH 7KH UHDW ULWLVK DNH 2II ZKLOH D R D FH UHIHUV WR
SKUDVHV ZLWK DQ HFKR FUHDWHG E LGHQWLFDO RU VLPLODU VRXQGV DV ZLWK WKH YRZHOV L
DQG D LQ WKH ILOP WLWOH H PLWDWLR DPH -XOLDQ DUQHV RRNHU 3UL]H
ZLQQLQJ QRYHO H H H RI D ( GL LV DQRWKHU WLWOH ZKHUH DVVRQDQFH LV
XVHG WR DFKLHYH DQ HFKR OLNH HIIHFW &KDUDFWHULVWLF VRXQGV DQG UK WKPV FDQ EH HDV
LO LGHQWLILHG E UHDGLQJ WKH WH[W DORXG 7KHVH VW OLVWLF WHFKQLTXHV FDQQRW DOZD V
EH UHSOLFDWHG LQ WKH 7/ EXW RQH VWUDWHJ LV WR LQWURGXFH D VLPLODU FDGHQFH RU GHYLFH
HOVHZKHUH LQ WKH WH[W D WHFKQLTXH WKDW FDQ DOVR ZRUN IRU SXQV
Q LQWHUHVWLQJ ILJXUH RI VSHHFK WKDW PD FUHDWH SUREOHPV IRU WUDQVODWRUV LV
PD ZKHUH D ZRUG LV XVHG WR PRGLI WZR RU PRUH RWKHU ZRUGV LQ GLIIHU
HQW ZD V RU LQ D GLIIHUHQW VHQVH IRU H[DPSOH KH EURNH D ZRUOG UHFRUG DQG
KLV DQNOH Q DPXVLQJ H[WHQGHG H[DPSOH RI ]HXJPD FDQ EH KHDUG LQ WKH 8.
RQ 9LUJLQ 7UDLQV LQ WKH WDONLQJ WRLOHWV WKH LQWURGXFHG LQ :KHQ WKH WRL
OHW GRRU FORVHV D UHFRUGHG YRLFH XUJHV SDVVHQJHUV 3OHDVH GRQ W IOXVK QDSSLHV
VDQLWDU WRZHOV SDSHU WRZHOV JXP ROG SKRQHV XQSDLG ELOOV MXQN PDLO RXU
H[ V VZHDWHU KRSHV GUHDPV RU JROGILVK GRZQ WKLV WRLOHW 7KH KXPRXU LQ WKLV
FDVH OLHV LQ WKH XVH RI WKH YHUE WR IOXVK ZLWK D OLVW RI HYHU GD LWHPV IROORZHG
E VRPH LPSUREDEOH RQHV WKHQ DEVWUDFW FRQFHSWV DQG WKH VHQWHQFH WKHQ WHUPL
QDWHV ZLWK WKH ULGLFXORXV PHQWLRQ RI JROGILVK ,Q WKLV FDVH D HPD WLF WUDQVODWLRQ
PLJKW EH PRUH HIIHFWLYH DW UHWDLQLQJ WKH KXPRXU RI WKH VRXUFH WH[W WKDQ D IUHHU
FRPP LFDWL H UHQGHULQJ
 H W D ODWLR D DO L
XWKRUV PD DOVR XVH SXQFWXDWLRQ VHQWHQFH VWUXFWXUH SDUDJUDSKLQJ DQG
HPSKDVLV LQ D SDUWLFXODU ZD 6RPH VW OLVWLF IHDWXUHV DUH GHOLEHUDWH LQGLFDWLQJ
VRFLROHFW RU GLDOHFW DV LQ WKH IROORZLQJ WH[W ZKLOH RWKHUV DUH LQYROXQWDU 7KHVH
IHDWXUHV QHHG WR EH HYDOXDWHG FDUHIXOO IRU WKH FRQWULEXWLRQ WKH EULQJ WR WKH 67
LQ SDUWLFXODU ZKHQ GHFLGLQJ ZKHWKHU VXFK IHDWXUHV VKRXOG EH UHWDLQHG LQ D VLPLODU
IRUP LQ WKH 77 RU ZKHWKHU WKH SOD QR IXQFWLRQDO RU XVHIXO UROH LQ WKH GLVFRXUVH

7DV

7KH IROORZLQJ WH[W LV DQ H[WUDFW IURP WKH QRYHO D FW D E :LOOLDP

)DXONQHU ILUVW SXEOLVKHG LQ DQG VHW LQ 7HQQHVVHH LQ WKH WURXEOHG
PHULFDQ HHS 6RXWK 3HQJXLQ 0RGHUQ &ODVVLFV ,Q WKLV VFHQH
7RPP WHOOV D FRPSDQLRQ KRZ KLV GRJ ZDV NLOOHG E D ZKLWH PDQ

D :KLFK VW OLVWLF HOHPHQWV VLJQDO D SDUWLFXODU VRFLDO YDULDQW LQ 7RPP V

VSHHFK
E 6HOHFW WKUHH H[DPSOHV RI YDULDQW IRUPV IURP WKH WH[W EHORZ H[SODLQ
ZK WKH GLIIHU IURP VWDQGDUG XVH DQG VD KRZ RX ZRXOG WDFNOH WKHVH
WUDQVODWLRQ FKDOOHQJHV EHDULQJ LQ PLQG ZKHQ WKH ERRN ZDV ZULWWHQ
F ,I RX FDQ ILQG D WUDQVODWLRQ RI WKH ERRN LQ RXU 7/ WKLV SDVVDJH RFFXUV
DERXW WZR WKLUGV RI WKH ZD WKURXJK &KDSWHU FRQVLGHU KRZ WKH
WUDQVODWRU KDV DSSURDFKHG WKH VRFLDO DQG OLQJXLVWLF FKDOOHQJHV

, EH D GRJ LI KH DLQ W WKH VNHHULHVW GXUQ LWH PDQ , HYHU VHH 7RPP
VDLG HUH KH ZDV FRPLQ XS WKH SDWK WR WKH SRUFK DQG WKDW HUH GRJ FRPH
RXW IURP XQGHU WKH KRXVH DQG ZHQW XS DQG VQLIIHG KLV KHHOV OLNH HUH D
GRJ ZLOO DQG , EH GRJ LI KH GLGQ W IOLQFK RII OLNH LW ZDV D PRFFDVLQ DQG
KLP EDUHIRRW DQG ZKXSSHG RXW WKDW OLWWOH DUWHUPDWLF SLVWRO DQG VKRW LW
GHDG DV D GRRU QDLO , EH GXUQ LI KH GLGQ W
:KRVH GRJ ZDV LW RUDFH VDLG
LW ZDV PLQH 7RPP VDLG H FKRUWOHG ROG GRJ WKDW ZRXOGQ W
KXUW D IOHD LI KLW FRXOG

LV L GO LF
7KH ZD D WH[W LV RUJDQLVHG LQWR SDUDJUDSKV VHQWHQFHV DQG XQLWV FUHDWHV D IUDPH
ZRUN IRU GHYHORSLQJ LWV DUJXPHQW DQG ORJLF :KHUH WKH W SH RI GLVFRXUVH GLIIHUV
IURP VWDQGDUG XVH WKH UHDGHU QHHGV WR PDNH DQ HIIRUW WR XQGHUVWDQG WKH VHQVH
RI WKH WH[W DV LQ WKH )DXONQHU H[WUDFW LQ 7DVN )RU H[DPSOH SRHWU LV RIWHQ
 H W D ODWLR D DO L
FKDUDFWHULVHG E GLVFRXUVH WKDW ODFNV FRQYHQWLRQDO VHQWHQFH VWUXFWXUHV E QRQ
VWDQGDUG ZRUG RUGHU JUDPPDU V QWD[ DQG OH[LV RU E U FD G I UPV DQG
RPLVVLRQV RI FHUWDLQ PDUNHUV VXFK DV G UPL UV LYHUJHQFH IURP VWDQGDUG
XVH LV RIWHQ D VW OLVWLF PHFKDQLVP WR FUHDWH DQ LPSDFW RQ WKH UHDGHU ZKLFK LV
RIWHQ OHVV WR GR ZLWK VHQVH DQG ORJLF DQG PRUH WR GR ZLWK FRQYH LQJ PHVVDJHV
DQG PHQWDO LPDJHV WKURXJK HPRWLRQV DQG VHQVDWLRQV )RU H[DPSOH WKH DXWKRU
HRUJHWWH H HU ZKR VHW KHU URPDQWLF QRYHOV LQ WKH 5HJHQF SHULRG XVHG WR
UHFUHDWH WKH W SH RI ODQJXDJH XVHG LQ ERWK KLJK DQG ORZ 5HJHQF VRFLHW
WR JLYH KHU ERRNV ORFDO FRORXU :KHQ UHIHUULQJ WR ODQJXDJH VWUXFWXUH ZH FRQ
VLGHUHG KRZ WKH ERXQGDULHV RI (QJOLVK ODQJXDJH FDQ VRPHWLPHV EH VWUHWFKHG WR
DFFRPPRGDWH QHZ XVHV RI VWDQGDUG IRUPV D GHYHORSPHQW WKDW LV VLPLODU LQ
VRPH UHVSHFWV WR QHZ PHDQLQJV DWWDFKLQJ WR ROG ZRUGV D FRPPRQ H[DPSOH
EHLQJ JD DQ DGMHFWLYH SUHGRPLQDQWO XVHG XQWLO WKH PLG WZHQWLHWK FHQWXU WR
PHDQ OLJKW KHDUWHG DQG FDUHIUHH RU ZLFNHG QRZ XVHG FROORTXLDOO WR PHDQ
JUHDW RU EULOOLDQW DQG ZLWK D VLPLODU VHQVH FKDQJH WR WKH )UHQFK WHUULEOH
7KHUH DUH RI FRXUVH FHUWDLQ ULVNV DVVRFLDWHG ZLWK WUDQVODWLQJ D WH[W ZLWKRXW FDUH
IXO FRQVLGHUDWLRQ RI WKH VHW RI PHVVDJHV FRQWDLQHG ZLWKLQ LW DQG RI WKH ZD WKH
DUH GHYHORSHG DQG OLQNHG WKURXJK FRKHVLYH GHYLFHV V PHQWLRQHG HDUOLHU UHDG
LQJ LV QRW VROHO D OLQHDU SURFHVV EXW RQH ZKLFK DOVR LQYROYHV FURVV UHIHUHQFLQJ
LQIRUPDWLRQ LQ WKH WH[W WR EXLOG D FRKHUHQW SLFWXUH 7KH ULVNV RI WUDQVODWLQJ ZRUG
IRU ZRUG LQFOXGH IUDJPHQWDWLRQ RI WKH DXWKRU V WKRXJKW SURFHVVHV DQG LQWHQWLRQV
WKH FUHDWLRQ DQG VHTXHQFLQJ RI ZDWHUWLJKW FRPSDUWPHQWV W SLFDOO OH[LFDO XQLWV
DQG WKH ODFN RI D FRPSUHKHQVLYHO FRKHUHQW GLVFRXUVH WKDW IXOO UHIOHFWV WKH LGHDV
DV WKH DUH GHYHORSHG E WKH DXWKRU LQ WKH IRUP DQG VHTXHQFH RI WKH WH[W
UHOHYDQW FRQFHSW KHUH LV WKDW RI P DQG U P 0RQD DNHU
H[SODLQV WKHPH LV ZKDW WKH FODXVH LV DERXW DQG JRHV RQ WR VD WKDW
WKH UKHPH LV ZKDW WKH VSHDNHU VD V DERXW WKH WKHPH 6R WKH W HPH LV WKH H[LVWLQJ
LQIRUPDWLRQ ZKHUHDV WKH HPH LV QHZ LQIRUPDWLRQ DQG WKH RUGHU LQ ZKLFK WKHVH
DSSHDU PD YDU EHWZHHQ ODQJXDJHV ,Q HUPDQ IRU LQVWDQFH DQG VRPHWLPHV LQ
)UHQFK DQG 5XVVLDQ WRR LW LV SRVVLEOH WR VWDUW D VHQWHQFH ZLWK D GLUHFW RU LQGLUHFW
REMHFW ZKHUHDV LQ (QJOLVK WKLV ZRXOG EH XQXVXDO
2QH ZD RI DYRLGLQJ D OLQHDU DSSURDFK WR WUDQVODWLRQ LV WR L W LQIRUPDOO VXP
PDULVH WKH 67 E LGHQWLI LQJ WKH PDLQ FRQFHSWV DQG PHVVDJHV LW FRQWDLQV ZLWK D
YLHZ WR UHFRQVWUXFWLQJ WKH WKUHDGV WKDW UXQ WKURXJK WKH WH[W DQG KROG LW WRJHWKHU
7KH VXFFHVV RI WKLV RSHUDWLRQ KRZHYHU GHSHQGV RQ KRZ FRKHUHQW WKH 67 LV LQ WKH
ILUVW SODFH ,GHQWLI LQJ WKH PDLQ LGHDV HQDEOHV D EDVLF IUDPHZRUN WR EH FUHDWHG
FDSDEOH RI JHQHUDWLQJ D SLHFH RI ORJLFDO GLVFRXUVH LQ WKH 7/ RZHYHU D SRRUO
RUJDQLVHG 67 ZLOO UHTXLUH PRUH HIIRUW RQ WKH SDUW RI WKH UHDGHU WR XQUDYHO WKH
VHQVH HIRUH VWDUWLQJ WR WUDQVODWH LW LV ZRUWK LQYHVWLQJ WLPH LQ JLVWLQJ D WH[W ZLWK
FRPSOH[ LGHDV DQG VWUXFWXUHV UDWKHU WKDQ VLPSO WDFNOLQJ FKDOOHQJHV LQ FRKHVLRQ
DQG FRKHUHQFH DV WKH DULVH JRRG WHVW RI ZKHWKHU WKH VHTXHQFH RI LGHDV LQ WKH
67 KDV EHHQ XQGHUVWRRG LV IRU WKH WUDQVODWRU WR VXPPDULVH RXW ORXG E SUHWHQGLQJ
WR WHOO VRPHRQH ZKDW WKH WH[W LV DERXW 7KLV LV D JRRG ZD RI FKHFNLQJ ZKHWKHU WKH
LGHDV DQG LQIRUPDWLRQ KDYH EHHQ DVVLPLODWHG VXIILFLHQWO WR HQDEOH WKH WUDQVODWRU
WR DGRSW D FRKHUHQW DSSURDFK WR WKH WUDQVODWLRQ WDVN
 H W D ODWLR D DO L
:KHQ FRQVLGHULQJ WKH ORJLF HPEHGGHG ZLWKLQ WKH 67 DQG GHWHUPLQLQJ KRZ WR
UHSURGXFH WKLV LQ WKH 77 RXU FRQFHSW RI WKH WKUHH &V ZLOO SURYLGH D VLPSOH DLGH
PpPRL H RU FKHFNOLVW IRU WKH WUDQVODWRU 7KH WKUHH &V DV GHILQHG LQ WKLV ERRN DUH
FODUL F VL DQG F U F
OD LW PHDQV WKDW WKH DUJXPHQW PXVW EH WUDQVSDUHQW HQRXJK IRU WKH UHDGHU WR
XQGHUVWDQG LW LPPHGLDWHO ZLWKRXW UHDGLQJ WKH WH[W DJDLQ DQG DJDLQ RYHUQPHQW
OHDGHUV DW ERWK ORFDO DQG QDWLRQDO OHYHO LQ WKH 8. DQG HOVHZKHUH DUH QRZ ZHOO
DZDUH RI WKH QHHG WR DGGUHVV UHVLGHQWV LQ VLPSOH ODQJXDJH 7KLV LV PDLQO GXH
WR WKH HIIRUWV RI WKH 3ODLQ (QJOLVK &DPSDLJQ 6LQFH WKLV RUJDQLVDWLRQ KDV
EHHQ DZDUGLQJ D &U VWDO 0DUN DV LWV VHDO RI DSSURYDO IRU WKH FODULW RI D SLHFH RI
ZULWLQJ 7KLV PDUN QRZ DSSHDUV RQ RYHU GLIIHUHQW GRFXPHQWV LQ WKH 8.
DQG LQ RWKHU FRXQWULHV LQFOXGLQJ WKH 86 XVWUDOLD 1HZ HDODQG 6RXWK IULFD
DQG HQPDUN 7KH &U VWDO 0DUN LV WKH RQO LQWHUQDWLRQDOO UHFRJQLVHG PDUN RI LWV
NLQG 2Q LWV ZHEVLWH WKH FDPSDLJQ SURYLGHV DQ RI DOWHUQDWLYH ZRUGV LQ SODLQ
(QJOLVK ZKLFK FRXOG EH RI XVH WR D WUDQVODWRU ZKR LV WU LQJ WR GHWHUPLQH WKH PHDQ
LQJ RI D WH[W ZULWWHQ LQ JREEOHG JRRN VHH ZZZ SODLQHQJOLVK FR XN
1RZ WKH (XURSHDQ 8QLRQ LQVWLWXWLRQV DUH OLNHZLVH HQFRXUDJLQJ EXUHDXFUDWV
WR SURGXFH WH[WV WKDW DUH PRUH DFFHVVLEOH WR HYHU RQH 7UDQVODWRUV LQ SDUWLFXODU
KDYH SOD HG D NH UROH LQ WKLV RSHUDWLRQ 7KH DUH DIWHU DOO ZULWHUV E SUR[
DQG WKHLUV FDQ EH D WRXJK MRE ZKHQ WKH KDYH WR XQUDYHO WKH PHDQLQJ RI SDJHV RI
UDPEOLQJ UHSRUWV LQ RUGHU WR EH DEOH WR WUDQVODWH WKHP LQWR DQRWKHU ODQJXDJH
IHZ HDUV DJR WKH (XURSHDQ &RPPLVVLRQ V LUHFWRUDWH HQHUDO IRU 7UDQVODWLRQ
LQLWLDWHG LWV RZQ FOHDU ZULWLQJ FDPSDLJQ NQRZQ DV )L W W H )R VSHDUKHDGLQJ D
WUHQG WRZDUGV JUHDWHU FODULW LQ RIILFLDO (8 SXEOLFDWLRQV
R H LR DQG FR H H FH DUH WHFKQLFDO WHUPV WKDW GHVFULEH KRZ ZHOO WKH QXWV
DQG EROWV RI ODQJXDJH IXQFWLRQ ZLWKLQ D WH[W PDFKLQH LQ ZKLFK VRPH RI WKH
HOHPHQWV DUH PLVVLQJ FRXOG EUHDN GRZQ ZLWKRXW WKH SURSHU FRQQHFWRUV WR OLQN
WKH SDUWV WRJHWKHU 7KH VDPH DSSOLHV WR D WH[W R H LR GHVFULEHV KRZ ZHOO WKH
ZRUGV LQ D WH[W DUH OLQNHG WRJHWKHU DQG FR H H FH PHDVXUHV KRZ ZHOO WKH LGHDV
DUH FRQQHFWHG &RKHVLRQ LV ZKDW PDNHV D WH[W IORZ ZHOO DOORZLQJ WKH UHDGHU WR
PRYH HIIRUWOHVVO IURP RQH VHQWHQFH WR WKH QH[W FFRUGLQJ WR DNHU
ZKR GUDZV KHDYLO RQ DOOLGD DQG DVDQ V PRGHO FRKHVLRQ LV WKH QHWZRUN RI
OH[LFDO JUDPPDWLFDO DQG RWKHU UHODWLRQV ZKLFK SURYLGH OLQNV EHWZHHQ YDULRXV
SDUWV RI D WH[W ,W LV DQ LPSRUWDQW IHDWXUH RI RUJDQLVDWLRQ DQG ORJLF DQG LV FUHDWHG
WKURXJK WKH XVH RI FRQQHFWRUV FRKHVLYH GHYLFHV WKDW FUHDWH D WUDQVLWLRQ EHWZHHQ
RQH VHQWHQFH DQG WKH QH[W RU WKDW OLQN SDUWV RI D VHQWHQFH 6RPH VWDQGDUG FRQ
QHFWRUV DUH FRQMXQFWLRQV DQG EXW HW WKRXJK YDULRXV HOHPHQWV ZRUN WR PDNH D
WH[W FRKHVLYH LQFOXGLQJ GHWHUPLQHUV SURQRXQV DQG DGYHUEV DOO WKHVH VKDSH WKH
GLVFRXUVH DQG KHOS WR UHGXFH DPEL L
,Q DGGLWLRQ WR WKH JUDPPDWLFDO GHYLFHV PHQWLRQHG HDUOLHU FRKHVLRQ LV RIWHQ
DFKLHYHG E OH[LFDO VWUDWHJLHV VXFK DV UHSHWLWLRQ RU LQ PRUH VXEWOH ZD V E LQWUR
GXFLQJ V PV VXFK DV UXGH DQG LPSHUWLQHQW RU D PV VXFK DV ULFK
DQG SRRU 7KLV KHOSV WR PDLQWDLQ D WKUHDG WKDW UXQV WKURXJK WKH WH[W DQG PDNHV LW
IORZ 7R VXVWDLQ WKHLU DUJXPHQW VRPH ZULWHUV DGRSW DQ HYHQ PRUH VXEWOH VWUDWHJ
DQG XVH D JURXS RI ZRUGV IURP WKH VDPH V PD LF IL OG RU DUHD RI PHDQLQJ
 H W D ODWLR D DO L
,Q WKH H[WUDFW EHORZ IURP 7UROORSH DQG 0H SXEOLVKHG LQ WKH 5DGLR 7LPHV
0DUFK -XOLDQ )HOORZHV XVHV OH[LFDO FRKHVLRQ FKRRVLQJ ZRUGV
IURP WKH VDPH VHPDQWLF ILHOG WR GHVFULEH WKH DXWKRU QWKRQ 7UROORSH V IDPLO
EDFNJURXQG

LV ZDV D FRPSOLFDWHG LI LQWHUHVWLQJ S R H D FH LV IDWKHU FDPH I RP DQ

ROG OD GHG IDPLO EXW KLV PRWKHU GLG QRW 6DLG IDWKHU 7KRPDV 7UROORSH ZLWK
KLV D FH WR HDF L EDFN L WR L WR ZLWK D ED R HWF L W H IDPLO WKDW
ZRXOG HYHQWXDOO SDVV WKURXJK QWKRQ 7UROORSH WR KLV RZQ GHVFHQGDQWV
ZDV QHYHUWKHOHVV HQWLUHO KRSHOHVV DW WKH EXVLQHVV RI OLIH

7KH ZRUGV DQG SKUDVHV LQ LWDOLFV DUH DOO FDUHIXOO FKRVHQ WR KHOS PDLQWDLQ WKH WKHPH
RI 7UROORSH V RULJLQV 7KH ZULWHU XVHV ODQJXDJH WR LQWURGXFH DQG VXVWDLQ D WRSLF RI
GLVFXVVLRQ UDWKHU OLNH D FRPSRVHU ZKR FUHDWHV D WKHPH WXQH DQG WKHQ EULQJV RXW
WKH PHORG ZLWK WKH DLG RI SRLQW DQG FRXQWHUSRLQW RQ WKH GLIIHUHQW LQVWUXPHQWV ,Q
WKLV WH[W )HOORZHV GRHV QRW DFWXDOO GHILQH WKH ZRUG S R H D FH EXW KH GRHV QRW
QHHG WR 7KH GHWDLOV KH JLYHV LQ WKH QH[W VHQWHQFH H[SODLQ LW ZHOO HQRXJK H WKHQ
GHFLGHV WR VWUHVV KRZ KRSHOHVV 7UROORSH V IDWKHU ZDV E LQFOXGLQJ D TXRWH WKDW
UHSHDWV WKLV PHVVDJH LQ GLIIHUHQW ZD V DV VKRZQ E WKH ZRUGV LQ LWDOLFV

(YHU WKLQJ H W R LW LP ZURWH KLV IDPRXV VRQ 7KH WRXFK RI KLV

KDQG VHHPHG WR F HDWH IDLO H

:LWKLQ WKH VDPH VHPDQWLF ILHOG ZRUGV RIWHQ IDOO LQWR QDWXUDO KLHUDUFKLHV PRYLQJ
IURP WKH JHQHUDO WR WKH VSHFLILF ,Q WKH ILHOG RI WUDQVSRUW IRU H[DPSOH D JHQHUDO RU
JHQHULF WHUP SH R P LV YHKLFOH 7R VSHFLI D SDUWLFXODU W SH RI YHKLFOH D
MRXUQDOLVW PD UHIHU WR D EXV FDU YDQ SR P 6LPLODUO WKH ZRUG ERDW
LV D JHQHULF WHUP EXW WR VSHFLI WKH W SH RI ERDW LQ TXHVWLRQ D K SRQ P VXFK DV
EDUJH FDELQ FUXLVHU RU DFKW ZRXOG EH XVHG ,Q FHUWDLQ ILHOGV RI GLVFRXUVH
VXFK DV (8 GLUHFWLYHV FRQWUDFWV RU FOLQLFDO UHFRUGV WKH OHYHO RI VSHFLILFLW LQ WKH
67 LV D NH IDFWRU WKDW WKH WUDQVODWRU QHHGV WR LGHQWLI 7HFKQLFDO WHUPLQRORJ
LQ SDUWLFXODU WHQGV WR EH YHU VSHFLILF VLQFH LW PDNHV D FRPSRQHQW RU WHFKQLTXH
LPPHGLDWHO LGHQWLILDEOH VR WKDW WKH UHDGHU V EUDLQ GRHV QRW KDYH WR PDNH WRR
PXFK HIIRUW WR SURFHVV WKH LQIRUPDWLRQ &RJQLWLYH SV FKRORJLVWV WDON DERXW WKH
DPRXQW RI SU F VVL II U UHTXLUHG WR DVVLPLODWH LQIRUPDWLRQ
&RKHVLYH GHYLFHV DLG FR H H FH 7KLV WHUP LV XVHG LQ WZR ZD V ILUVW DV WKH
ORJLF DQG VWDWXV RI D WH[W UDWKHU WKDQ DV D VHTXHQFH RI ZRUGV DQG SKUDVHV VHFRQG
LQ UHODWLRQ WR FRQVLVWHQF PHDQLQJ WKDW WKH WH[W FDQ EH UHFRJQLVHG DV KDYLQJ RQ
RYHUDOO XQLIRUPLW
Q RQH ZKR KDV HYHU VWUXJJOHG WR PDNH D 77 UHDG EHWWHU ZLOO EH DZDUH WKDW
D IOXHQW GHOLYHU LV QRW LQ LWVHOI HQRXJK 7KH ZRUGV PD IORZ EXW WKH LGHDV PD
VZLWFK DEUXSWO IURP RQH WKHPH WR DQRWKHU RZHYHU PXFK HIIRUW LV SXW LQWR
FKRRVLQJ WKH ZRUGV LQ WKH 7/ LW DSSHDUV LPSRVVLEOH WR VROYH WKH SUREOHP 7KLV
LV EHFDXVH LGHDV DUH OLQNHG DQG VWUXFWXUHG DW D GHHSHU OHYHO WKDQ ZRUGV ,W DOVR
H[SODLQV ZK H[SHULHQFHG MRXUQDOLVWV VRPHWLPHV SURGXFH SRRUO FRQVWUXFWHG
 H W D ODWLR D DO L
VHQWHQFHV WKDW DUH LQFRKHUHQW ZLWK WKH UHVXOW WKDW LW LV GLIILFXOW IRU WKH UHDGHU DQG
WUDQVODWRU WR IROORZ WKH ORJLF ,VVXHV UHODWLQJ WR ODQJXDJH TXDOLW DUH GLVFXVVHG
LQ JUHDWHU GHWDLO LQ &KDSWHU

7DV

7KH IROORZLQJ WH[W LV DQ H[WUDFW IURP WKH DUWLFOH VLD LQ PVWHUGDP E

-DVOHHQ .DQGKDUL LQ L WR RGD 0DUFK IRXQG RQ WKH PDJD
]LQH V ZHEVLWH VVXPH WKDW RX KDYH EHHQ DVNHG WR SURYLGH D VXPPDU RI
WKH DUWLFOH IRU D ZHEVLWH LQ RXU 7/ WKDW SURYLGHV QHZV DERXW FXUUHQW DQG
IRUWKFRPLQJ FXOWXUDO HYHQWV IRU YLVLWRUV WR PVWHUGDP ,I RXU 7/ LV XWFK
SURYLGH WKH VXPPDU LQ (QJOLVK

D 5HDG WKH WH[W EHORZ ZRUGV LGHQWLI WKH PDLQ FRQFHSWV DQG PDNH
D VXPPDU RI DERXW ZRUGV
E :KLFK LQIRUPDWLRQ GLG RX SULRULWLVH DQG ZKLFK GLG RX FRQVLGHU RI
VHFRQGDU LPSRUWDQFH RZ PLJKW WKLV UDQNLQJ RI LQIRUPDWLRQ EH XVH
IXO IRU WUDQVODWLRQ SXUSRVHV
F LYH H[DPSOHV RI KRZ WKH WH[W XVHV FRKHVLYH GHYLFHV DQG FRPPHQW RQ
KRZ WKH FRQWULEXWH WR WKH WH[W V RYHUDOO FRKHUHQFH

W WKH VWDUW RI WKH XWFK ROGHQ JH PHUFKDQWV IURP WKH ZRUOG V

ILUVW PXOWLQDWLRQDO WKH XWFK (DVW ,QGLD &RPSDQ 9HUHHQLJGH
2RVWLQGLVFKH &RPSDJQLH 92& XVHG WKHLU EXVLQHVV DFXPHQ WR HVWDE
OLVK OXFUDWLYH WUDGH DJUHHPHQWV ZLWK VLD UHVXOWLQJ LQ WKH WUDGH RI
H[RWLF WUHDVXUHV IURP VLD LQFOXGLQJ SRUFHODLQ ODFTXHUZDUH LYRU DQG
VLON WR WKH XWFK 5HSXEOLF ZKHUH WKHVH IRUPV RI GHVLJQ DQG PDWHULDOV
KDG QRW EHHQ VHHQ EHIRUH DQG WKHUHIRUH ZHUH FRQVLGHUHG WR EH SUL]HG
LWHPV RI H[TXLVLWH TXDOLW DQG IDVFLQDWLRQ
XWFK VWLOO OLIHV DQG SRUWUDLWV RI FLWL]HQV ZKR KDG WKHPVHOYHV SDLQWHG
DPRQJ WKHLU QHZO DFTXLUHG LWHPV RI VLDQ OX[XU SURYLGH DQ HIIHF
WLYH FRQWH[WXDO EDFNJURXQG EULQJLQJ WKH REMHFWV WR OLIH )RU H[DPSOH
IDVKLRQDEOH PHQ KDG WKHLU SRUWUDLWV SDLQWHG ZHDULQJ D VLON -DSDQHVH
VNLUW D ORQJ ORRVH ILWWLQJ VLON FRDW VXFK DV WKH RQH ZRUQ E PVWHUGDP
SKDUPDFLVW -RKDQQHV XGGH LQ KLV SRUWUDLW E 0LFKLHO YDQ 0XVVFKHU
LQ
7KH ROGHQ JH XWFK DUWLVWV VXFK DV 5HPEUDQGW :LOOHP .DOI -DQ
6WHHQ DQG 3LHWHU &ODHV] LQFRUSRUDWHG VLDQ OX[XU JRRGV DQG GHVLJQV
LQWR WKHLU VWLOO OLIH SDLQWLQJV LQFOXGLQJ &KLQHVH SRUFHODLQ VKHOOV IURP
WKH ,QGLDQ DQG 3DFLILF RFHDQV DQG SHSSHU IURP WKH (DVW ,QGLHV UHIOHFW
LQJ WKH VXFFHVV RI WKH XWFK PDULWLPH WUDGH DV RQH RI WKH GULYHUV RI WKH
 H W D ODWLR D DO L
5HSXEOLF V HFRQRPLF SURVSHULW FRLQFLGLQJ ZLWK WKH KHLJKWV RI XWFK
SDLQWLQJ -DQ YDQ GHU H GHQ V RRP R H LW D LWLH LOOXVWUDWHV
WKH DUULYDO RI WKHVH H[RWLF VLDQ DUW IRUPV DQG FXULRVLWLHV
7KLV H[KLELWLRQ RI VLDQ WUHDVXUHV SURYLGHV D FHOHEUDWLRQ RI WKH FRQ
QHFWLRQV EHWZHHQ WKH 1HWKHUODQGV DQG VLD RIIHULQJ D IUHVK SHUVSHF
WLYH RQ WKH XWFK ROGHQ JH
2QH RI WKH PRVW SRSXODU OX[XU JRRGV WR EH H[SRUWHG LQ WKH ROGHQ
JH ZDV EOXH DQG ZKLWH SRUFHODLQ WKDW RULJLQDWHG PDLQO IURP WKH NLOQV
RI -LQJGH]KHQ LQ &KLQD DQG ODWHU IURP ULWD LQ -DSDQ HLQJ WKLQQHU
VPRRWKHU DQG OLJKWHU WKDQ HDUWKHQZDUH SURGXFHG LQ WKH 1HWKHUODQGV LW
LQIOXHQFHG WKH FUHDWLRQ RI HOIW OXH ZKLFK ZDV D FKHDSHU HDUWKHQ
ZDUH LPLWDWLRQ RI SRUFHODLQ FRDWHG ZLWK ZKLWH HQDPHO DQG SDLQWHG ZLWK
FREDOW EOXH GHFRUDWLRQV 3RO FKURPH -DSDQHVH SRUFHODLQ ZDV LPSRUWHG
E 92& RIILFLDOV UHWXUQLQJ WR WKHLU KRPHODQGV LQ WKH WK FHQWXU ZLWK
.DNLHPRQ SRUFHODLQ EHLQJ IDYRXUHG DPRQJ WKH XWFK HOLWH 6HYHUDO ILQH
H[DPSOHV DUH RQ GLVSOD KLJKOLJKWHG E D SRXULQJ MXJ ZLWK D JROGHQ OLG
EHDULQJ WKH RZQHU V FRDW RI DUPV

L
HD L LV LQWHQGHG DV WKH VHW RI PHVVDJHV FRQYH HG WKURXJK GLVFRXUVH ZKHWKHU
VSRNHQ RU ZULWWHQ ERWK DW WKH OHYHO RI LWV LQGLYLGXDO FRQVWLWXHQW XQLWV DQG LQ WKH
WH[W DV D ZKROH )RU H[DPSOH WKH VKRUW SHQXOWLPDWH SDUDJUDSK RI 7DVN WH[W LV D
VLQJOH VHQWHQFH FRQWDLQLQJ WZR LGHDV WKH VHFRQG EHLQJ D FRQVHTXHQFH RI WKH ILUVW
7KH UHODWLRQVKLS EHWZHHQ WKH WZR SDUWV RI WKH VHQWHQFH LV IRUPHG RI D PDLQ FODXVH
IROORZHG E ZKDW LV LQ SUDFWLFH D UHODWLYH FODXVH :LWKLQ WKDW VDPH VHQWHQFH DUH
SURSHU QRXQV PDUNHG E LQLWLDO FDSLWDO OHWWHUV HDFK RI ZKLFK HPERGLHV VSHFLILF
KLVWRULFDO DQG FXOWXUDO FRQWHQW DQG FRQWH[W 7KH KROLVWLF PHDQLQJ RI WKH VHQWHQFH
LV FUHDWHG E LWV JUDPPDU V QWD[ OH[LFDO LWHPV LQIRUPDWLRQDO DQG FXOWXUDO FRQ
WHQW Q DOWHUDWLRQ WR WKH VWUXFWXUH WKDW XQGHUSLQV WKH VHQWHQFH FRXOG XQEDODQFH
LWV FRKHVLRQ DQG FRKHUHQFH Q XQGHUVWDQGLQJ RI WKH VFRSH DQG UHOHYDQFH RI WKH
FRQFHSWV WUDQVPLWWHG WKURXJK WKH SURSHU QRXQV VHHQ DV ODQGPDUNV LQ WKH WH[W LV
FUXFLDO LI WKH WUDQVODWRU LV WR JUDVS WKH PHDQLQJ RI HDFK VHQWHQFH DQG RI WKH WH[W
DV D ZKROH
7KH PHVVDJHV FRQYH HG E WKH 67 QHHG WR EH FRUUHFWO XQGHUVWRRG EHIRUH LW FDQ
EH WUDQVODWHG WKRURXJK UHDGLQJ RI WKH 67 LV DV DOUHDG VWUHVVHG LQVWUXPHQWDO
IRU DFTXLULQJ IDPLOLDULW ZLWK WKH WH[W WKRXJK PRVW WH[WV UHTXLUH IXUWKHU UHVHDUFK
RU VFUXWLQ E WKH WUDQVODWRU WR HQVXUH WKDW WKH GLVFRXUVH KDV EHHQ XQGHUVWRRG FRU
UHFWO DQG WKH DXWKRU V LQWHQWLRQV KDYH EHHQ LGHQWLILHG (OHPHQWV WKDW FDQ FDXVH
FRPSUHKHQVLRQ SUREOHPV ZLWK WKH WH[W V FRQVWLWXHQW XQLWV RU ZLWK WKH WH[W DV D
ZKROH LQFOXGH LQYROXQWDU RU GHOLEHUDWH DPELJXLW RU YDJXHQHVV WKH DXWKRU V
LGLROHFW LGLRV QFUDVLHV QRQ VWDQGDUG XVH RI ZRUGV RU SKUDVHV ERWK LQYROXQWDU
DQG GHOLEHUDWH SRRU TXDOLW RI WKH 67 WKH LQWHQGLQJ WUDQVODWRU V LQVXIILFLHQW
XQGHUVWDQGLQJ RI WKH FRQFHSWV VHW RXW LQ WKH 67 SRVVLEO GXH WR D ODFN RI H[SHUWLVH
 H W D ODWLR D DO L
GLIILFXOW IROORZLQJ WKH DUJXPHQW DQG ORJLF RI WKH 67 W SRJUDSKLFDO HUURUV RU WKH
PRUH IRUPDO DVSHFWV RI WKH 6/
,Q ODQJXDJH VWXG WKH WHUPV G D L DQG F D L DUH XVHG DV D PHDQV
RI HVWDEOLVKLQJ WKH YDOXH V WKDW D ZRUG HPERGLHV H RWDWLR LV LQ HIIHFW WKH
SULPDU RU OLWHUDO PHDQLQJ RI D ZRUG ZKLOH FR RWDWLR LV DQ RYHUWRQH LPSOLFD
WLRQ RU DVVRFLDWHG PHDQLQJ VLQJOH ZRUG SDUWLFXODUO D FRPPRQ RQH FDQ KDYH
YDULRXV FRQQRWDWLRQV GHSHQGLQJ RQ KRZ ZKHQ ZKHUH DQG E ZKRP LW LV XVHG
8VLQJ RQH JUDPPDWLFDO IRUP UDWKHU WKDQ DQRWKHU FDQ DOVR PDNH D GLIIHUHQFH 7DNH
WKH YHUE OHDYH IRU H[DPSOH DV DQ LQWUDQVLWLYH YHUE LW PHDQV WR GHSDUW RU JR
DZD DV D WUDQVLWLYH YHUE LW LPSOLHV GHWDFKPHQW IURP VRPHWKLQJ VRPHRQH DV D
QRXQ LW FDQ PHDQ SHUPLVVLRQ RU JUDQWLQJ DQ DEVHQFH IURP GXW ODUJH (QJOLVK
GLFWLRQDU ZLOO FRQWDLQ H[DPSOHV RI WKH YHUE OHDYH XVHG LQ YDULRXV SKUDVHV DQG
H[SUHVVLRQV VRPH RI ZKLFK DUH KLVWRULFDO H J WR OHDYH D FDOOLQJ FDUG DQG RWKHUV
XVHG LQ SKUDVDO YHUEV ZKLFK DGG D QXDQFH WR WKH EDVLF PHDQLQJ RI WKH YHUE OHDYH
DORQH OHDYH EHKLQG OHDYH RII OHDYH RXW OHDYH RYHU &HUWDLQ VLWXDWLRQV RU
QHHGV PD JHQHUDWH D QHZ XVH RI WKH ZRUG VXFK DV WKH FKRLFH RI /HDYH IRU WKH
UH[LW FDPSDLJQ LQ WKH UHIHUHQGXP RQ (8 PHPEHUVKLS
8OWLPDWHO LQWHUSUHWLQJ WKH PHDQLQJ RI D SDVVDJH RU D ZKROH VWUHWFK RI ODQ
JXDJH GHSHQGV RQ WKH DELOLW WR VXFFHVVIXOO UHDG WKH DXWKRU DQG WR FUDFN WKH
VSHFLILF FRGH WKDW KH RU VKH XVHV 7KH LQVWUXPHQWV GHSOR HG E WKH UHDGHU WR
DFKLHYH WKLV LQFOXGH IDPLOLDULW ZLWK WKH 6/ DQG LWV FRQYHQWLRQV DQG IRUPDOL
WLHV DQG WKH DELOLW WR LGHQWLI WKH DXWKRU V LGLROHFW DQG VW OH WKH WH[W V VXEMHFW
PDWWHU DUJXPHQW WRQH H[SUHVVLRQ DQG FXOWXUDO FRQWHQW FRQWH[W WH[W GRHV
QRW VWDQG DORQH LW LV SDUW DQG SDUFHO RI D ZLGHU H[SHULHQFH DQG H[LVWHQFH QRW
RQO RI WKH DXWKRU EXW DOVR RI WKH UHDGHU WUDQVODWRU DQG WKH ZRUOG DW ODUJH RI D
GRPDLQ DQ HSRFK DQG D PRPHQW LQ WLPH OHWWHU PD EH ZULWWHQ LQ UHVSRQVH WR
RQH UHFHLYHG RU ZULWWHQ WR JHQHUDWH D UHVSRQVH RU VLPSO SURGXFHG IRU LQIRUPD
WLRQ RU SXEOLFLW VHW RI FRPSDQ DFFRXQWV IRU D HDU RI WUDGLQJ LV WKH RYHUYLHZ
DQG GHWDLO RI WKH ILQDQFLDO VLWXDWLRQ RI D FRPSDQ ZLOO LV D GRFXPHQW WKDW
HVWDEOLVKHV WKH WHVWDWRU V ZLVKHV IRU WKH GLVWULEXWLRQ RI KLV RU KHU HVWDWH RQ GHDWK
1RQH RI WKHVH GRFXPHQWV DUH FUHDWHG IURP WKLQ DLU ,Q SURFHVVLQJ WKH 67 WUDQV
ODWRUV GHSOR WKHLU EDFNJURXQG NQRZOHGJH DQG H[SHULHQFH VRPHWLPHV UHIHUUHG
WR DV ZRUOG NQRZOHGJH WR SURGXFH D 77 WKDW DOLJQV WKH 67 DV IDU DV SRVVLEOH
ZLWK WKH 77
,Q ER W D ODWLR 3HWHU 1HZPDUN GHILQHV WKUHH YDULHWLHV RI
PHDQLQJ FRJQLWLYH FRPPXQLFDWLYH DQG DVVRFLDWLYH H XVHV WKH WHUP F LL
P D L WR LQFOXGH WKH OL LV LF P D L WKH SURSRVLWLRQ FRQWDLQHG ZLWKLQ
WKH WH[W WKH U I U LDO P D L WKH FRQWH[W RI ZKHUH DQG ZKHQ WKH XWWHUDQFH
WRRN SODFH DQG WKH LPSOLFL P D L ZKDW LV LPSOLHG UDWKHU WKDQ VWDWHG
VWDWHPHQW PD RIWHQ PHDQ WKH RSSRVLWH RI ZKDW LW DSSHDUV WR IRU H[DPSOH WKH
VHHPLQJO SRVLWLYH H[SUHVVLRQ 7KDW V JUHDW PD EH VDLG VDUFDVWLFDOO WR LQGLFDWH
WKH VSHDNHU V GLVVDWLVIDFWLRQ ZLWK D SODQ
PP LFD L P D L UHODWHV PDLQO WR WKH IXQFWLRQ RI D VWDWHPHQW ZLWKLQ
D JLYHQ FRQWH[W )RU H[DPSOH D KRVW PD VD WR D JXHVW ,V WKDW WKH WLPH :KDW
KH RU VKH PD UHDOO PHDQ LV ,W V JHWWLQJ ODWH ,VQ W LW WLPH RX ZHQW KRPH 2U D
 H W D ODWLR D DO L
UHSRUW RI D IRRWEDOO PDWFK PD UHIHU WR D SOD HU EHLQJ VKRZQ D HOORZ FDUG ZKLFK
PHDQV WKDW KH RU VKH KDV EHHQ FDXWLRQHG E WKH UHIHUHH
VV FLD L P D L GHVFULEHV DVVRFLDWLRQV WKDW DUH WULJJHUHG E D VSHFLILF
ZRUG RU SKUDVH )RU H[DPSOH WKH ZRUGV HVWHUGD RU HOORZ VXEPDULQH PLJKW
WULJJHU UHVRQDQFH ZLWK IDQV RI WKH HDWOHV :KHQ FRQVLGHULQJ WKH RYHUDOO PHDQLQJ
RI DQ 67 VRPH WUDQVODWRUV DQG LQWHUSUHWHUV DGRSW D FRPPXQLFDWLYH PHVVDJH EDVHG
DSSURDFK DSSO LQJ ZKDW LV NQRZQ DV , USU L 7 U 7KLV PHWKRGRORJ LV
GHULYHG IURP WKH ZRUN RI WKH HGXFDWLRQDO SV FKRORJLVW )UDQoRLV 3LDJHW DQG ZDV
DGRSWHG E WHDFKHUV RI LQWHUSUHWLQJ DQLFD 6HOHVNRYLWFK DQG 0DULDQQH /HGHUHU
DPRQJ WKHP DW (6,7 WKH KLJKO SUHVWLJLRXV VFKRRO RI LQWHUSUHWLQJ DQG WUDQVODWLRQ
LQ 3DULV 7KH PHWKRG IRFXVHG YHU PXFK RQ WKH LQWHUSUHWHU V DQG WUDQVODWRU V UROH
DV D PHGLDWRU ZKRVH WDVN LW LV WR FRPPXQLFDWH D PHVVDJH EHWZHHQ WZR ODQJXDJHV
DQG WZR FXOWXUHV 7KH PHWKRG EUHDNV GRZQ LQWHUSUHWLQJ DQG WUDQVODWLRQ LQWR WKUHH
VWDJHV GH WD GL GH H EDOL DWLR DQG HIR P ODWLR
8 G UV D GL LQYROYHV DQDO VLQJ WKH ORJLF RI WKH 67 DQG LGHQWLI LQJ WKH
VHQVH RI WKH DUJXPHQW
UEDOLVD L PHDQV VHHLQJ WKH WH[W LQ WHUPV RI LPDJHV RU YLVXDOLVLQJ KRZ
LW PLJKW ORRN DV D VFHQH IURP D ILOP WHFKQLTXH RI WKLV NLQG LV XVHG LQ LQVWUXF
WLRQ OHDIOHWV WKDW WHOO FXVWRPHUV KRZ WR DVVHPEOH WKH IODW SDFNV ERXJKW IURP ,
VKRSV DQG SRSXODU UHWDLOHUV (YHQ KLJKO VNLOOHG VWXGHQWV RI HQJLQHHULQJ KDYH EHHQ
NQRZQ WR H[SHULHQFH GLIILFXOWLHV LQ SXWWLQJ VRPH RI WKHVH SURGXFWV WRJHWKHU ZKLFK
LOOXVWUDWHV WKH SRVVLEOH OLPLWDWLRQV RI GHYHUEDOLVDWLRQ
,Q WKH WKLUG VWDJH U I UP OD L WKH WUDQVODWRU H[SUHVVHV WKH PHVVDJH LQ WKH
7/ XVLQJ VWUXFWXUHV DQG LGLRPV WKDW VRXQG DV FOHDU DQG QDWXUDO DV SRVVLEOH 7KLV
GRHV QRW PHDQ RI FRXUVH WKDW WKH WUDQVODWRU ZRXOG EH MXVWLILHG LQ DGGLQJ DQ
LQIRUPDWLRQ WR RU UHPRYLQJ DQ GHWDLOV IURP WKH 67 ZKLFK ZRXOG FRQVWLWXWH HGLW
LQJ RU SDUDSKUDVLQJ UDWKHU WKDQ WUDQVODWLRQ
7KH )UHQFK &DQDGLDQ WUDQVODWLRQ VFKRODU -HDQ HOLVOH ODWHU DGGHG D IRXUWK
VWDJH ULILFD L ZKLFK PHDQW UHYLVLWLQJ WKH 67 WR HQVXUH WKDW WKH PHVVDJH KDG
EHHQ DFFXUDWHO FRQYH HG LQ LWV HQWLUHW /HGHUHU

7DV

7KH IROORZLQJ WH[W LV WDNHQ IURP D VFKRODUO DUWLFOH ZLWK WKH WLWOH H RQG
ERG LPDJH 7KH LQWHJUDWLRQ RI IHPLQLVW DQG WUDQVFXOWXUDO WKHRULHV LQ WKH
XQGHUVWDQGLQJ RI VHOI VWDUYDWLRQ E 0HODQLH .DW]PDQ DQG 6LQJ /HH
HSDUWPHQW RI 3V FKLDWU &RUQHOO 0HGLFDO &ROOHJH 1HZ RUN 1HZ RUN
HSDUWPHQW RI 3V FKLDWU 7KH &KLQHVH 8QLYHUVLW RI RQJ .RQJ

D ,Q FRPPRQ ZLWK PDQ DFDGHPLF DUWLFOHV WKLV RQH LV FKDUDFWHULVHG E

D KLJK OLQJXLVWLF UHJLVWHU WKDW LPSOLHV FHUWDLQ DVVXPSWLRQV DERXW WKH 67
UHDGHUVKLS :KDW NLQG RI DVVXPSWLRQV FDQ EH PDGH IRU WKLV UHDGHUVKLS
FR WL HG
 H W D ODWLR D DO L
FR WL HG
DQG RQ ZKDW EDVLV :KDW UHDGHUVKLS ZRXOG RX DVVXPH IRU WKH 77 LI
RX KDG QRW EHHQ SURYLGHG ZLWK D WUDQVODWLRQ EULHI
E :KDW FKDOOHQJHV ZRXOG WKH WUDQVODWRU LQWR DQRWKHU ODQJXDJH IDFH LQ
WHUPV RI PHDQLQJ LQ WKLV WH[W

7KH JURZLQJ FURVV FXOWXUDO OLWHUDWXUH KDV UHSHDWHGO SRLQWHG WR

:HVWHUQLVDWLRQ RI DFFXOWXUDWLRQ DV D PDMRU ULVN IDFWRU IRU HDWLQJ GLV
RUGHUV :KLOH FRQILUPLQJ VRPH FXOWXUDO WR[LQ PRVW RI WKH VWXGLHV
KDYH HQJDJHG LQ D VLQJOH ELQDU DQDO VLV YL] DUH HDWLQJ GLVRUGHUV LQ D
JLYHQ FRXQWU WKH VDPH RU GLIIHUHQW IURP WKH 8QLWHG 6WDWHV RU (QJODQG
/LWWOH HIIRUW LV PDGH WR GHFRQVWUXFW WKH ORFDO PHDQLQJ RI IRRG UHIXVDO
OHW DORQH WKH QDWXUH RI JHQGHU UROHV ZLWKLQ D VRFLHW ,QVWHDG WKH RYHU
LQFOXVLYH FRQFHSW RI :HVWHUQLVDWLRQ KDV EHHQ LQYRNHG WR FDSWXUH WKH
LPSDFW RI VRPH QRQVSHFLILF FXOWXUDO SURFHVV RU HPSOR HG LQWHUFKDQJH
DEO ZLWK H[SRVXUH WR PHGLD LQIOXHQFHV :DOOHU 6KDZ 5DWKHU
HW DO 5DWKHU WKDQ H[DPLQLQJ FXOWXUDO IRUFHV RWKHU WKDQ D GULYH
IRU WKLQQHVV DWWHQWLRQ LV RIWHQ VLGH WUDFNHG WR GHEDWHV DV WR ZKHWKHU
RU QRW WKH FULWHULD IRU FXOWXUH ERXQG V QGURPH DUH PHW LQ :HVWHUQ DQG
QRQ :HVWHUQ FRXQWULHV 6WHLJHU

9L S L
LH SRL W ZH PHDQ WKH SHUVSHFWLYH RI WKH WH[W LV LW GLUHFW RU UHSRUWHG VSHHFK RU
D FRPELQDWLRQ RI WKH WZR :KRVH YLHZSRLQW LV UHIHUHQFHG WKH ZULWHU V RU WKDW RI
VRPHRQH HOVH LQFOXGLQJ REOLTXH UHIHUHQFHV WR WKH JHQHUDO SXEOLF LQGLYLGXDOV QRW
QDPHG IDFWLRQV DQG VR RQ ,V WKH WRQH SHUVRQDO RU LPSHUVRQDO ,V WKH LQIRUPDWLRQ
EDVHG RQ IDFW RU FRQMHFWXUH UH WKHUH DOOHJDWLRQV RU UXPRXUV ,W LV ZRUWK SRLQWLQJ
RXW WKDW VRPH ODQJXDJHV WHQG WR XVH D SDUWLFXODU WHQVH WR LQGLFDWH DOOHJDWLRQV VXFK DV
WKH SUHVHQW FRQGLWLRQDO EXW (QJOLVK WHQGV WR PDNH DOOHJDWLRQV WKURXJK OH[LV UDWKHU
WKDQ JUDPPDU 2QH VHQWHQFH PLJKW PDNH D VSHFLILF DOOHJDWLRQ WKHQ IROORZ LW XS ZLWK
LPSOLHG UHIHUHQFHV )RU H[DPSOH DQ H[WUDFW IURP D SROLFH FULPH UHSRUW PLJKW UXQ

H SHFW L DOOH HG WR KDYH EURNHQ LQWR WKH KRXVH DQG VWROHQ YDOXDEOHV
DPRXQWLQJ WR KXQGUHGV RI SRXQGV H D D L WHG LQ WKLV EUHDN LQ E DQ
DFFRPSOLFH

7KH SUHVHQFH RI WKH DFFRPSOLFH PD EH NQRZQ DQG SURYHQ EXW WKH VHFRQG VHQ
WHQFH FRXOG VLPSO EH DQRWKHU DOOHJDWLRQ WKHUHIRUH XQSURYHQ 7KH ZULWHU ZRXOG
EH XQOLNHO WR FRQWLQXH WR XVH WKH WHUP DOOHJHG IRU HYHU VXVSHFWHG DFWLRQ WR
DYRLG UHSHWLWLRQ 7KH DGGLWLRQ RI H[WUD LQIRUPDWLRQ FRXOG FODULI WKH VLWXDWLRQ
 H W D ODWLR D DO L
H ZDV DVVLVWHG LQ WKLV EUHDN LQ E DQ DFFRPSOLFH DFFR GL WR D LW H
QRWKHU ZD WKH DOOHJDWLRQ FRXOG EH H[SUHVVHG LV E VWDWLQJ D SUREDELOLW
7KH VXVSHFW ZDV S REDEO DVVLVWHG LQ WKH EUHDN LQ E DQ DFFRPSOLFH

,W DOO GHSHQGV RQ WKH SUHFLVH QDWXUH RI WKH ZULWHU V DVVXPSWLRQV

7KHVH H[DPSOHV VKRZ KRZ FUXFLDO LW LV WR FRQYH WKH PHVVDJH XVLQJ WKH VDPH
YLHZSRLQW ,Q ,WDOLDQ IRU H[DPSOH ZKHQ D VLPLODU DOOHJDWLRQ LV PDGH LW WHQGV WR
EH GHOLYHUHG XVLQJ WKH SUHVHQW FRQGLWLRQDO WHQVH
2QH ZD WR GHWHUPLQH WKH YLHZSRLQW LQ D WH[W LV WR H[DPLQH WKH OH[LV DQG GHWHU
PLQH ZKHWKHU LW LV SRVLWLYH QHJDWLYH RU QHXWUDO ,V WKHUH D VOLGLQJ VFDOH ZLWKLQ
WKHVH FDWHJRULHV :KLFK ZRUGV KDYH WKH PRVW LPSDFW 7KLV PD ZHOO GHSHQG RQ
WKH FRQWH[W ZD RI H[DPSOH LQ WKH WH[W XVHG IRU 7DVN E EHORZ OD R GH
ZKDW RWKHU ZRUGV FRXOG WKH DXWKRU KDYH XVHG LQVWHDG RI PDJLFDO HUH DUH
VRPH SRVVLEOH V QRQ PV EHZLWFKLQJ FDSWLYDWLQJ HQFKDQWLQJ HQWKUDOOLQJ
HQWUDQFLQJ VSHOOELQGLQJ 2U SRVVLEO GUHDPOLNH P VWLFDO RU P VWHULRXV
7KHVH DUH PRUH QHXWUDO WKDQ WKH SUHYLRXV RQHV ZKLOH ZRUGV VXFK DV SUHWHUQDWXUDO
XQFDQQ XQHDUWKO ZHLUG DQG VR RQ KDYH D UDWKHU PRUH QHJDWLYH PHDQLQJ

7DV

)LQG D QHZVSDSHU DUWLFOH WKDW H[SUHVVHV D SROLWLFDO ELDV RZ GRHV WKH DXWKRU
FUHDWH WKLV ELDV TXRWLQJ VRPHRQH V ZRUGV E XVLQJ LQGLUHFW VSHHFK RU
E LQQXHQGR

O GF
1RWKLQJ LV ZULWWHQ LQ D YDFXXP DV PHQWLRQHG HDUOLHU 0RVW WH[WV DUH ZULWWHQ ZLWK HLWKHU
RYHUW GLUHFW RU FRYHUW LQGLUHFW UHIHUHQFHV WR WKH H[LVWLQJ ERG RI ZULWLQJ LQ WKH ILHOG
DQG ZLOO IROORZ D JLYHQ VW OH DQG IRUPDW DOOLGD [LLL PDLQWDLQV WKDW (YHU
WH[W WKDW LV HYHU WKLQJ WKDW LV VDLG DQG ZULWWHQ XQIROGV LQ VRPH FRQWH[W RI XVH
7KH ZRUG F O U LV XVHG LQ PDQ ZD V EXW WKRVH RI SDUWLFXODU UHOHYDQFH WR
WUDQVODWLRQ LQFOXGH

• SURSHU QRXQV QDPHV WLWOHV SODFHV SHRSOH HYHQWV FRPSDQLHV DQG RUJDQLVD
WLRQV ILOPV OLWHUDU ZRUNV PXVLF DUW ODZV
• FXOWXUDO UHIHUHQFHV VXFK DV W SHV RI DUW DQG DUFKLWHFWXUH RU VRFLR FXOWXUDO
SKHQRPHQD
• GLDOHFW UHJLRQDO ZRUGV VSHOOLQJ VODQJ DQG MDUJRQ IRUHLJQ ZRUGV SKUDVHV
DUFKDLVPV
• TXRWDWLRQV E SHRSOH LQ OLWHUDWXUH ILOPV HWF
• VW OH PDUNHUV RI SXQFWXDWLRQ XVHG WR VLJQDO D FXOWXUH VSHFLILF LWHP FXOWXUDO
QHRORJLVP RU RXW RI FRQWH[W XVH RI D ZRUG SKUDVH
 H W D ODWLR D DO L
7KH OLVW LV QRW H[KDXVWLYH DQG LV RQO LQWHQGHG WR VKRZ WKH GLYHUVLW RI LWHPV WKDW
PD EH EURDGO GHVFULEHG DV F OW DO :KHQ DSSURDFKLQJ D WUDQVODWLRQ WDVN LW LV
KHOSIXO WR LGHQWLI ZKLFK HOHPHQWV LQ WKH 67 DVVXPH D FXOWXUDO YDOXH 7KLV LV LPSRU
WDQW IRU HVWDEOLVKLQJ WKHLU XVH DQG IXQFWLRQ DQG WKH LPSOLFDWLRQV IRU WUDQVIHU WR WKH
7/ V SRLQWHG RXW E &UDJLH HW DO LQ L NL WDOLD D ODWLR WUDQVODWLQJ
LQYROYHV QRW MXVW WZR ODQJXDJHV EXW D WUDQVIHU IURP R H ROH F OW H WR D RW H
7KH LWDOLFV HPSKDVLVH WKDW WKH SURFHVV RI WUDQVIHUULQJ D FXOWXUDO FRQFHSW
IURP RQH ODQJXDJH WR DQRWKHU DOVR LPSRUWDQWO LQYROYHV D VKLIW LQ FRQWH[W
)LUVW RI DOO LW LV FUXFLDO WR XQGHUVWDQG WKH DU F RU WKH FXOWXUDO HQYL
URQPHQW LQ ZKLFK WKH 77 ZLOO EH XVHG )RU H[DPSOH OHW XV DVVXPH WKDW (QJOLVK LV
WKH 7/ IRU D WUDQVODWLRQ DVVLJQPHQW EXW LW LV XVHG QRW RQO DV D ILUVW ODQJXDJH E
LQKDELWDQWV RI (QJOLVK VSHDNLQJ FRXQWULHV EXW DOVR DV D ODQJXDJH RI LQWHUQDWLRQDO
FRPPXQLFDWLRQ 7KHUHIRUH D WUDQVODWRU DVNHG WR WUDQVODWH LQWR (QJOLVK ZLWKRXW
DQ UHIHUHQFH WR WKH WDUJHW FRQWH[W FDQ RQO SURGXFH WKH WUDQVODWLRQ LQ WKH YDULHW
RI (QJOLVK WKDW KH RU VKH KDELWXDOO XVHV
7KH IROORZLQJ FDXWLRQDU WDOH ZLOO LOOXVWUDWH ZKDW KDSSHQV ZKHQ WKH LQWHQWLRQV
RI WKH VHQGHU RI D PHVVDJH IDLO WR PDWFK WKH LQIHUHQFHV GUDZQ E WKH UHFHLYHU
6RPH HDUV DJR ZKHQ WKH LVVXH RI JOREDO ZDUPLQJ KDG RQO MXVW VWDUWHG WR FRPH WR
WKH IRUH D ULWLVK WUDQVSRUW MRXUQDO ZDV FDUU LQJ RXW D WHOHSKRQH VXUYH IRU LQFOX
VLRQ LQ DQ DUWLFOH DERXW WKH HQYLURQPHQWDO DVSHFWV RI WUDQVSRUW 7KLV LQYROYHG VWDII
DVNLQJ KDXODJH FRPSDQLHV RZ JUHHQ DUH RXU WUXFNV 2QH UHVSRQGHQW ZKR
KDG QRW IXOO XQGHUVWRRG WKH FRQWH[W RI WKH VXUYH ZDV VRPHZKDW VXUSULVHG DQG
VDLG 2XU WUXFNV DUHQ W JUHHQ WKH UH EOXH LV LQIHUHQFH ZDV WKDW JUHHQ ZDV
EHLQJ XVHG LQ LWV RULJLQDO VHQVH UDWKHU WKDQ LQ LWV PRUH UHFHQW ILJXUDWLYH PHDQLQJ
RI HQYLURQPHQW IULHQGO
7H[WV DQG LQ 7DVN RI WKLV FKDSWHU VKRZ KRZ LPSRUWDQW FRQWH[W FDQ
EH 7H[W WKH OHJDO RSLQLRQ RQ WUDGHPDUNV UHODWLQJ WR D GHWHUJHQW UHTXLUHV
D SURFHVVLQJ HIIRUW E WKH UHDGHU WR UHFUHDWH WKH LQIRUPDWLRQ WKURXJK YLVXDOLVD
WLRQ XW DV ORQJ DV WKH UHDGHU LV IDPLOLDU ZLWK WKH FKDUDFWHUV :DOODFH DQG URPLW
7H[W OHVV HIIRUW LV UHTXLUHG WR XQGHUVWDQG WKH FRQWH[W DQG WKH YLVXDO LPDJH RI
ILULQJ WKHPVHOYHV IURP D FDQQRQ ZKLOH FXULRXV DQG FRPLFDO LV IDU PRUH DFFHV
VLEOH WKDQ WKH LQIRUPDWLRQ UHODWLQJ WR WKH WUDGHPDUNV
,QIRUPDWLRQ WKDW LV LPSOLFLW EXW GRHV QRW DFWXDOO DSSHDU LQ WKH WH[W ZLOO YDU
IURP ODQJXDJH WR ODQJXDJH DQG IURP FXOWXUH WR FXOWXUH 1DPHV RI LQVWLWXWLRQV
VXFK DV 2[IRUG RU DUYDUG HQMR LQWHUQDWLRQDO SUHVWLJH EXW WKH WHUP 2[EULGJH
ZKLFK UHIHUV WR 2[IRUG DQG &DPEULGJH XQLYHUVLWLHV DQG LPSOLHV WKH JROG VWDQG
DUG RI XQLYHUVLW HGXFDWLRQ LQ WKH 8. PD QRW EH LPPHGLDWHO UHFRJQLVHG
E D UHDGHUVKLS PRUH IDPLOLDU ZLWK RWKHU (QJOLVK VSHDNLQJ FRQWH[WV /LNHZLVH
VRPH UHDGHUV PD QRW NQRZ WKDW VWXGHQWV ZKR ERDUGHG DW DUWLQJWRQ DOO LQ WKH
V RU V ZRXOG KDYH UHFHLYHG D YHU SURJUHVVLYH DQG IUHH WKLQNLQJ HGX
FDWLRQ RU WKDW ROODQG 3DUN ZDV D VKRZFDVH FRPSUHKHQVLYH VFKRRO DW WKDW WLPH
7R LOOXVWUDWH ZKDW LV PHDQW E ( XWW V U O D F F F S WKH H[SUHV
VLRQ :KHQ KH V DW KRPH ZKLFK DSSHDUV LQ &KDSWHU LQ WKH H[WUDFW IURP -RKQ
/H &DUUp V H 1L W D D H FDQQRW EH WUDQVODWHG OLWHUDOO ,W LV QRW UHDOO
UHOHYDQW WR WKH FRQWH[W RU WR WKH PHVVDJH WKDW LV EHLQJ FRQYH HG EXW LV UDWKHU D
 H W D ODWLR D DO L
WKURZ DZD UHPDUN XVHG LQ FRQYHUVDWLRQ WR HPSKDVLVH WKH IDFW WKDW WKH VSHDNHU
KDV QHYHU KHDUG RI WKLV SHUVRQ DQG LW VWUHVVHV WKH DSSDUHQW LQVLJQLILFDQFH RI WKH
FKDUDFWHU UHIHUUHG WR 7KLV FRQFHSW FRXOG DOVR EH DSSOLHG WR WKH ZD WKH WUDQVODWRU
KDQGOHV D UHIHUHQFH WR VRPHWKLQJ WKDW LV OLWWOH NQRZQ LQ WKH WDUJHW FXOWXUH VXFK DV
FUDIW EHHU LQ 7H[W RI &KDSWHU
2QH VSHFLDOLVW DUHD RI WUDQVODWLRQ ZKHUH FXOWXUDO FRQVLGHUDWLRQV DUH SDUDPRXQW
LV WKH ZRUOG RI DGYHUWLVLQJ 7KH SURFHVV RI WUDQVSRVLQJ VRXUFH FRQWHQW LQWR WDUJHW
FRQWHQW WH[WV DQG LPDJHV LQYROYHV D FUHDWLYH HIIRUW RQ WKH SDUW RI WKH WUDQVODWRU
WKDW LV EH RQG SXUHO OLQJXLVWLF LQWHUYHQWLRQ 7KH DLP LV WR GHOLYHU D SURGXFW WKDW LV
ILW IRU SXUSRVH LQ H[SUHVVLQJ WKH LQIRUPDWLRQ LGHDV DQG HPRWLRQV RI WKH PHVVDJH
WKHUHE PHHWLQJ WKH H[SHFWDWLRQV RI WKH WDUJHW FRQWH[W 7KLV SURFHVV LV VRPHWLPHV
UHIHUUHG WR DV UD VFU D L UDWKHU WKDQ WUDQVODWLRQ D WHUP RI FRPSDUDWLYHO
UHFHQW RULJLQ ZKLFK HQFDSVXODWHV WKH WUDQVSRVLWLRQ LQWR DQRWKHU ODQJXDJH DQG
FRQWH[W DQG WKH FUHDWLYH HIIRUW LQYROYHG
,Q RW H H LWH W H D DNL H H RI WH DWLR DO G H WL L
:LOH 1HZ RUN 6LPRQ QKROW SURYLGHV YDOXDEOH LQVLJKW LQWR FURVV
FXOWXUDO FRPPXQLFDWLRQ LQ WKH ZRUOG RI DGYHUWLVLQJ H UHYHDOV KRZ PLVWUDQVOD
WLRQV DULVH KLV WLWOH LV D OLWHUDO WUDQVODWLRQ RI WKH HUPDQ LGLRP HTXLYDOHQW WR ELWHV
WKH GXVW DQG GHPRQVWUDWHV KRZ DQ DGYHUWLVHU V IDLOXUH WR XQGHUVWDQG FXOWXUDO
FRQWH[WV FDQ HYHQ ZUHFN DQ DGYHUWLVLQJ FDPSDLJQ
7KH PRVW FRPPRQ FXOWXUDO LWHPV IRXQG LQ 67V WHQG WR EH SURSHU QRXQV QDPHV
RI SHRSOH DQG SODFHV WLWOHV RI OLWHUDU ZRUNV RU RI HYHQWV VSHFLDOLVW WHUPV IRU
GHVFULELQJ ZRUNV RI DUW RI DUFKLWHFWXUH DQG HOHPHQWV RI ODQJXDJH WKDW DUH QRW SDUW
RI WKH VWDQGDUG 6/ OH[LV GLDOHFW UHJLRQDO LGLRPV OH[LFDO ERUURZLQJV IURP RWKHU
ODQJXDJHV DQG VR RQ 7KH UROH SOD HG LQ WKH GLVFRXUVH DQG FRQWH[W E WKHVH LWHPV
QHHGV FDUHIXO FRQVLGHUDWLRQ LQ WHUPV RI WKH YDOXH DQG VLJQLILFDQFH WKH HPERG
DQG WKH LPSOLFDWLRQV IRU WUDQVIHU LQWR WKH WDUJHW ODQJXDJH DQG FRQWH[W 7KH WUDQVIHU
RI FXOWXUDO LWHPV LV H[SORUHG LQ PRUH GHWDLO LQ &KDSWHU
Q LPSRUWDQW FRQFHSW WR FRQVLGHU ZKHQ GHDOLQJ ZLWK WKH WUDQVIHU RI FXOWXUDO LWHPV
LV WKDW RI HT L DOH FH -HUHP 0XQGD H[SODLQV KRZ (XJHQH 1LGD SDYHG WKH ZD
IRU D UHDGHU EDVHG DSSURDFK LQ WUDQVODWLRQ WKHRU ZLWK KLV WZLQ FRQFHSWV RI IRUPDO
DQG G QDPLF HTXLYDOHQFH 1LGD VDZ I UPDO T L DO F DV IRFXVLQJ
RQ WKH PHVVDJH LWVHOI LQ ERWK IRUP DQG FRQWHQW ZKHUHDV G DPLF T L DO F
LQYROYHG DFKLHYLQJ DQ HTXLYDOHQW HIIHFW LQ WKH 77 ZKLOH VRXQGLQJ DV QDWXUDO DV SRV
VLEOH 7KHVH WKHRULHV EHFDPH WKH VXEMHFW RI D GHEDWH H[WHQGLQJ RYHU VHYHUDO GHFDGHV
6RPHWLPHV LW LV LPSRVVLEOH WR ILQG DQ H[DFW HTXLYDOHQW WHUP LQ WKH 7/ GXH
WR ZKDW LV NQRZQ DV D O LFDO DS Q H[DPSOH RI WKLV FDQ EH VHHQ LQ 7H[W
RI &KDSWHU ZKHUH WKH ZRUG PXOEHUULHV KDV QR GLUHFW HTXLYDOHQW LQ WKH 7/
)UHQFK RWK EODFNEHUULHV DQG PXOEHUULHV DUH NQRZQ DV P UHV 7R GLVWLQJXLVK
EHWZHHQ WKH WZR IUXLWV WKH FDQ EH UHIHUUHG WR DV P UHV GH URQFH DQG P UHV GH
P ULHU UHVSHFWLYHO :KLOH WKH GLVWLQFWLRQ LV OH[LFDO LW LV DOVR FXOWXUDO VLPLODU
LVVXH DULVHV ZLWK QXWV LQ (QJOLVK WKLV JHQHULF WHUP FRYHUV DQ NLQG RI QXW SUR
GXFHG E D SODQW RZHYHU LQ ,WDOLDQ WKHUH LV QR JHQHULF WHUP IRU D QXW 7KHVH
OH[LFDO JDSV DUH DOVR FXOWXUH UHODWHG DV WKH UHIOHFW KRZ RQH SDUWLFXODU ODQJXDJH
FRPPXQLW LGHQWLILHV DQG GHVFULEHV D FRQFHSW DV RSSRVHG WR DQRWKHU
 H W D ODWLR D DO L
3DUWLFXODU SUREOHPV DULVH LQ WU LQJ WR DFKLHYH DQ HTXLYDOHQW HIIHFW RQ WKH 7/
UHDGHU ZKHQ WUDQVODWLQJ FRPHG SDUW IURP WKH IDFW WKDW KXPRXU YDULHV IURP RQH
FXOWXUH WR DQRWKHU VNHWFK ZULWHUV RIWHQ GHOLEHUDWHO XVH D ZRUG RU D ZKROH UHJLVWHU
RXW RI FRQWH[W WR DFKLHYH D FRPLF HIIHFW )RU H[DPSOH D EDQN PDQDJHU ZKR VSHDNV
VWUHHW VODQJ RU KDV D &RFNQH DFFHQW ZLOO UDLVH D ODXJK UPVWURQJ DQG 0LOOHU LQ
WKHLU :RUOG :DU ,, 5 ) VNHWFKHV IRU LQVWDQFH PDNH WKHLU FKDUDFWHUV XVH ODQJXDJH
WKDW LV WRWDOO LQDSSURSULDWH IRU WKH FRQWH[W ,Q VRPH RI WKHLU VFHQDULRV DLUOLQH SLORWV
ZLWK XSSHU FODVV DFFHQWV VSHDN LQ PRGHUQ VWUHHW VODQJ DQG XVH VZHDU ZRUGV VODQJ RU
LQFRUUHFW JUDPPDU VXFK DV , LVQ W DOORZHG RU WKH DLQ W XQLIRUP 7KH LQFRQJUXLW
RU PLVPDWFK EHWZHHQ WKH ORZ UHJLVWHU DQG WKH XSSHU FODVV V FRQWH[W FRPELQHG
ZLWK WKH UHIHUHQFH WR WZHQW ILUVW FHQWXU LVVXHV VXFK DV KXPDQ ULJKWV KHDOWK HDW
LQJ DQG QR VPRNLQJ FUHDWH D QXPEHU RI FKDOOHQJHV IRU WKH WUDQVODWRU ZKR PD KDYH
WR ILQG RWKHU ZD V RI UHSURGXFLQJ DQG FRPSHQVDWLQJ IRU WKH KXPRXU LQ WKH 67

7DV

D /RRN EDFN DW WKH VLD LQ PVWHUGDP 7DVN WH[W DQG LGHQWLI WKH
GLIIHUHQW W SHV RI FXOWXUDO UHIHUHQFHV
E :KLFK RQHV GR RX WKLQN FRQVWLWXWH D SDUWLFXODU FKDOOHQJH IRU WUDQVODWLRQ
LQWR RXU 7/ DQG ZK

7DV

7KH WH[W EHORZ LV D GHVFULSWLRQ RI D 1DWLRQDO 7UXVW SURSHUW LQ HYRQ

VRXWK ZHVW (QJODQG IURP WKH 7UXVW V DQGERRN ,PDJLQH WKDW RX KDYH
EHHQ DVNHG WR WUDQVODWH WKH WH[W LQWR RXU 7/

D :K ZRXOG WKLV EH D FXOWXUDOO FKDOOHQJLQJ WH[W WR WUDQVODWH LQWR DQRWKHU

ODQJXDJH
E :KDW RWKHU WH[WXDO IHDWXUHV PDNH WKH 67 FKDOOHQJLQJ DQG KRZ ZRXOG
RX DSSURDFK WKHVH DV D WUDQVODWRU
F ([SODLQ ZK LW ZRXOG EH LPSRUWDQW IRU D WUDQVODWRU WR KDYH DFFHVV WR
LOOXVWUDWLRQV RI WKH H[WHULRU DQG LQWHULRU RI WKH SURSHUW DQG WKH SURE
OHPV WKDW D ODFN RI YLVXDO VXSSRUW ZRXOG FDXVH

/D R GH T L N W FH W R H LW D ID FL DWL L WH LR
GHFR DWLR D G FROOHFWLR

7KLV XQLTXH VL[WHHQ VLGHG KRXVH ZDV GHVFULEHG E /XFLQGD /DPEWRQ DV KDY
LQJ D PDJLFDO VWUDQJHQHVV WKDW RQH PLJKW GUHDP RI RQO DV D FKLOG ,W ZDV
 H W D ODWLR D DO L
EXLOW IRU WZR VSLQVWHU FRXVLQV -DQH DQG 0DU 3DUPLQWHU RQ WKHLU UHWXUQ IURP
D JUDQG WRXU RI (XURSH LQ WKH ODWH WK FHQWXU ,W FRQWDLQV PDQ REMHFWV DQG
PHPHQWRHV RI WKHLU WUDYHOV 7KH H[WUDRUGLQDU LQWHULRU GHFRUDWLRQ LQFOXGHV
D IHDWKHU IULH]H JDWKHUHG IURP QDWLYH JDPH ELUGV DQG FKLFNHQV ODERULRXVO
VWXFN GRZQ ZLWK LVLQJODVV 7KHUH LV DOVR D IUDJLOH VKHOO HQFUXVWHG JDOOHU
VDLG WR FRQWDLQ QHDUO VKHOOV ZKLFK FDQ EH YLHZHG LQ LWV HQWLUHW
XVLQJ D WRXFK VFUHHQ GHJUHH YLUWXDO WRXU

1RWH ODVW DGPLVVLRQ DW SP

RQ W PLVV

• LDPRQG ZLQGRZV LQ ODVW DUU 3RWWHU ILOP LQVSLUHG E RXUV

• LVFRYHU 5RRP ZLWK GUHVVLQJ XS VLOKRXHWWH DQG VKHOO DFWLYLWLHV
• :LOGOLIH EUDVV UXEELQJ DQG VSRWWHU VKHHWV IRU WKH JURXQGV
• )UHH JDUGHQ DFWLYLWLHV FURTXHW VQDNHV DQG ODGGHUV DQG TXRLWV
• 1HZ DUW H[KLELWLRQ DQG VDOH RI ZRUN HYHU WZR ZHHNV

FO VL
:H KDYH ORRNHG DW D UDQJH RI FULWHULD DQG LQIRUPDWLRQ DQG EURNHQ WKHVH GRZQ
LQWR IHDWXUHV WKDW FDQ EH XVHG IRU DQDO VLQJ DQG GHILQLQJ D WH[W IRU WUDQVODWLRQ 7KH
SUH WUDQVODWLRQ DQDO VLV GHYHORSHG WKXV IDU LV VXPPDULVHG LQ WKH 6WDJH 2QH 7DEOH
EHORZ ,Q &KDSWHU ZH FRPSOHWH WKH 7DEOH E SURYLGLQJ TXHVWLRQV WR DVN RI WKH
WH[W DQG E XQGHUVWDQGLQJ KRZ WKH UHVSRQVHV WR WKHVH TXHVWLRQV FDQ KHOS D WUDQV
ODWRU WR FRQILJXUH WKH WUDQVODWLRQ WDVN IDVW WUDFN PRGHO IRU WLPH FRQVWUDLQHG
DQDO VLV LV SURYLGHG LQ &KDSWHU

3U UD VOD L D DO VLV DEO 6 D 2

LWH LR )HDW H

6 EM F PD U • 6XEMHFW PDWWHU WRSLF

• HJUHH RI VSHFLDOLVDWLRQ
• 5HVHDUFK
3 US V • 8VH RI WKH 67 DQG 77
• 67 DQG 77 UHDGHUVKLSV
• 7UDQVODWLRQ EULHIV
U S • 7 SH RI VSHHFK DQG ZULWLQJ UHFRJQLVHG E D ODQJXDJH
FRPPXQLW
UPD • 3K VLFDO OD RXW
• 3UHVHQWDWLRQDO IHDWXUHV
/D D VU F U • UDPPDU
• 6 QWD[
• 3XQFWXDWLRQ

FR WL HG
 H W D ODWLR D DO L
FR WL HG

LWH LR )HDW H

/ LV D G OL LV LF U LV U • 9RFDEXODU WHUPLQRORJ
• 6RFLDO UHJLVWHU
• 3URIHVVLRQDO UHJLVWHU
6 OLV LF I D U V • 0DUNHUV WKDW VLJQDO D ZULWHU V LGLROHFW ODQJXDJH DQG
IRUPDO IHDWXUHV
2U D LVD L D G O LF • 6HQWHQFHV DQG SDUDJUDSKV
• &RKHVLRQ DQG FRKHUHQFH
0 D L • 6HQVH RI WKH GLVFRXUVH
• 0HDQLQJ RI LQGLYLGXDO XQLWV
• 0HDQLQJ RI ZKROH WH[W
9L S L • 6XEMHFWLYLW YHUVXV REMHFWLYLW
• 3HUVSHFWLYH
O U D GF • 3URSHU QRXQV
• LDOHFW UHJLRQDOLVP VODQJ
• RUURZLQJV IURP RWKHU ODQJXDJHV
• 4XRWDWLRQV
• ,WHPV RXW RI FRQWH[W