Enviar búsqueda
Cargar
SKGF_Presentation_Biosimilars: Where Do We Stand and Where Are We Headed?_2008
•
0 recomendaciones
•
409 vistas
SterneKessler
Seguir
Tecnología
Denunciar
Compartir
Denunciar
Compartir
1 de 40
Descargar ahora
Descargar para leer sin conexión
Recomendados
SKGF_Presentation_Hot Issues in Patenting Antibodies_2008
SKGF_Presentation_Hot Issues in Patenting Antibodies_2008
SterneKessler
Food waste quiz slideshow notes
Food waste quiz slideshow notes
lynettejohnson
SKGF_Presentation_In Re Bilski_2008
SKGF_Presentation_In Re Bilski_2008
SterneKessler
SKGF_Presentation_Commercializing Intellectual Property Through Licensing_2008
SKGF_Presentation_Commercializing Intellectual Property Through Licensing_2008
SterneKessler
Investor Awareness and Investment on Equity in Nepalese Capital Market
Investor Awareness and Investment on Equity in Nepalese Capital Market
Sudarshan Kadariya
Quality of supply and market regulation: survey within Europe
Quality of supply and market regulation: survey within Europe
Leonardo ENERGY
Accuplacer english
Accuplacer english
Rosario Rangel
New Life
New Life
Permai CMC
Recomendados
SKGF_Presentation_Hot Issues in Patenting Antibodies_2008
SKGF_Presentation_Hot Issues in Patenting Antibodies_2008
SterneKessler
Food waste quiz slideshow notes
Food waste quiz slideshow notes
lynettejohnson
SKGF_Presentation_In Re Bilski_2008
SKGF_Presentation_In Re Bilski_2008
SterneKessler
SKGF_Presentation_Commercializing Intellectual Property Through Licensing_2008
SKGF_Presentation_Commercializing Intellectual Property Through Licensing_2008
SterneKessler
Investor Awareness and Investment on Equity in Nepalese Capital Market
Investor Awareness and Investment on Equity in Nepalese Capital Market
Sudarshan Kadariya
Quality of supply and market regulation: survey within Europe
Quality of supply and market regulation: survey within Europe
Leonardo ENERGY
Accuplacer english
Accuplacer english
Rosario Rangel
New Life
New Life
Permai CMC
SKGF_Presentation_The Role of Formulations in Biologics Patent Protection_08
SKGF_Presentation_The Role of Formulations in Biologics Patent Protection_08
SterneKessler
An Actuarial Approach to Valuing Mortgage Backed Securities EAAC 2009 Kyle Mr...
An Actuarial Approach to Valuing Mortgage Backed Securities EAAC 2009 Kyle Mr...
kylemrotek
SAJBM 45(4) - Desember 2014
SAJBM 45(4) - Desember 2014
Stefan Du Toit
In tech different-approach_to_information_technology_teaching_the_intelligent...
In tech different-approach_to_information_technology_teaching_the_intelligent...
lavanter simamora
Sample report
Sample report
tk99
A Modo De Preámbulo, Eza Quilla I
A Modo De Preámbulo, Eza Quilla I
autobombo
Etiquettes for teachers
Etiquettes for teachers
Hammaduddin
National iron plus_initiative_guidelines_for_control_of_ida
National iron plus_initiative_guidelines_for_control_of_ida
dpmo123
Detroit Property Report v3
Detroit Property Report v3
Sovereign & Co - Property Investments | Property Management | PropTech | Property Fund
eNewsletter sample
eNewsletter sample
Elisa Smith
Social%20 media wrcc
Social%20 media wrcc
Credit Management Association
Effects and Control of Pulsating Flow in Gas Measurement
Effects and Control of Pulsating Flow in Gas Measurement
Ricardo Carmona
P.O.R.T.
P.O.R.T.
Laurette Williams
Rima yousif nov.2012
Rima yousif nov.2012
Rima Yousif
modern mythology.
modern mythology.
Andy Link
Panspermia y partenogénesis
Panspermia y partenogénesis
autobombo
Otn 9ides-fut-130867
Otn 9ides-fut-130867
FITSFSd
Sontext Acoustic Panels Catalogue
Sontext Acoustic Panels Catalogue
Sontext Acoustic Panels
Teaching of social science
Teaching of social science
AncySherin1
Texto 6
Texto 6
Bruno Roberto Dammski
In tech competence-based_curriculum_development_in_higher_education_a_globali...
In tech competence-based_curriculum_development_in_higher_education_a_globali...
lavanter simamora
Lessons from ligatt from national cyber security nationalcybersecurity com
Lessons from ligatt from national cyber security nationalcybersecurity com
Ben Rothke
Más contenido relacionado
La actualidad más candente
SKGF_Presentation_The Role of Formulations in Biologics Patent Protection_08
SKGF_Presentation_The Role of Formulations in Biologics Patent Protection_08
SterneKessler
An Actuarial Approach to Valuing Mortgage Backed Securities EAAC 2009 Kyle Mr...
An Actuarial Approach to Valuing Mortgage Backed Securities EAAC 2009 Kyle Mr...
kylemrotek
SAJBM 45(4) - Desember 2014
SAJBM 45(4) - Desember 2014
Stefan Du Toit
In tech different-approach_to_information_technology_teaching_the_intelligent...
In tech different-approach_to_information_technology_teaching_the_intelligent...
lavanter simamora
Sample report
Sample report
tk99
A Modo De Preámbulo, Eza Quilla I
A Modo De Preámbulo, Eza Quilla I
autobombo
Etiquettes for teachers
Etiquettes for teachers
Hammaduddin
National iron plus_initiative_guidelines_for_control_of_ida
National iron plus_initiative_guidelines_for_control_of_ida
dpmo123
Detroit Property Report v3
Detroit Property Report v3
Sovereign & Co - Property Investments | Property Management | PropTech | Property Fund
eNewsletter sample
eNewsletter sample
Elisa Smith
Social%20 media wrcc
Social%20 media wrcc
Credit Management Association
Effects and Control of Pulsating Flow in Gas Measurement
Effects and Control of Pulsating Flow in Gas Measurement
Ricardo Carmona
P.O.R.T.
P.O.R.T.
Laurette Williams
Rima yousif nov.2012
Rima yousif nov.2012
Rima Yousif
modern mythology.
modern mythology.
Andy Link
Panspermia y partenogénesis
Panspermia y partenogénesis
autobombo
Otn 9ides-fut-130867
Otn 9ides-fut-130867
FITSFSd
Sontext Acoustic Panels Catalogue
Sontext Acoustic Panels Catalogue
Sontext Acoustic Panels
Teaching of social science
Teaching of social science
AncySherin1
Texto 6
Texto 6
Bruno Roberto Dammski
La actualidad más candente
(20)
SKGF_Presentation_The Role of Formulations in Biologics Patent Protection_08
SKGF_Presentation_The Role of Formulations in Biologics Patent Protection_08
An Actuarial Approach to Valuing Mortgage Backed Securities EAAC 2009 Kyle Mr...
An Actuarial Approach to Valuing Mortgage Backed Securities EAAC 2009 Kyle Mr...
SAJBM 45(4) - Desember 2014
SAJBM 45(4) - Desember 2014
In tech different-approach_to_information_technology_teaching_the_intelligent...
In tech different-approach_to_information_technology_teaching_the_intelligent...
Sample report
Sample report
A Modo De Preámbulo, Eza Quilla I
A Modo De Preámbulo, Eza Quilla I
Etiquettes for teachers
Etiquettes for teachers
National iron plus_initiative_guidelines_for_control_of_ida
National iron plus_initiative_guidelines_for_control_of_ida
Detroit Property Report v3
Detroit Property Report v3
eNewsletter sample
eNewsletter sample
Social%20 media wrcc
Social%20 media wrcc
Effects and Control of Pulsating Flow in Gas Measurement
Effects and Control of Pulsating Flow in Gas Measurement
P.O.R.T.
P.O.R.T.
Rima yousif nov.2012
Rima yousif nov.2012
modern mythology.
modern mythology.
Panspermia y partenogénesis
Panspermia y partenogénesis
Otn 9ides-fut-130867
Otn 9ides-fut-130867
Sontext Acoustic Panels Catalogue
Sontext Acoustic Panels Catalogue
Teaching of social science
Teaching of social science
Texto 6
Texto 6
Similar a SKGF_Presentation_Biosimilars: Where Do We Stand and Where Are We Headed?_2008
In tech competence-based_curriculum_development_in_higher_education_a_globali...
In tech competence-based_curriculum_development_in_higher_education_a_globali...
lavanter simamora
Lessons from ligatt from national cyber security nationalcybersecurity com
Lessons from ligatt from national cyber security nationalcybersecurity com
Ben Rothke
Wealth and Happiness, Empirical Evidence from Indonesia
Wealth and Happiness, Empirical Evidence from Indonesia
Erlangga Agustino Landiyanto
Pen test pavol.luptak
Pen test pavol.luptak
Amiga Utomo
1ª Antología. Segunda Parte
1ª Antología. Segunda Parte
autobombo
Mortg Mod Flyer
Mortg Mod Flyer
Intero Real Estate Services
New holland sb64 grape harvester service repair manual
New holland sb64 grape harvester service repair manual
fusjejfkskeme
New holland sb62 grape harvester service repair manual
New holland sb62 grape harvester service repair manual
fjjsjefkskemme
New holland sb56 grape harvester service repair manual
New holland sb56 grape harvester service repair manual
fujsjekfkkseme
New holland sb36 grape harvester service repair manual
New holland sb36 grape harvester service repair manual
ufjjskekfmmse
New holland sb56 grape harvester service repair manual
New holland sb56 grape harvester service repair manual
ufjjskekfmmse
New holland sb58 grape harvester service repair manual
New holland sb58 grape harvester service repair manual
ufjjsjefkkekmme
New holland sb60 grape harvester service repair manual
New holland sb60 grape harvester service repair manual
fjjsjefkskemme
New holland sb60 grape harvester service repair manual
New holland sb60 grape harvester service repair manual
ufjjsjefkkekmme
New holland sb58 grape harvester service repair manual
New holland sb58 grape harvester service repair manual
fujsjekfkkseme
New holland sb36 grape harvester service repair manual
New holland sb36 grape harvester service repair manual
fujsekfksmemer
Engineering Better Electric Powered Wheelchairs To Enhance Rehabilitative And...
Engineering Better Electric Powered Wheelchairs To Enhance Rehabilitative And...
Yen Kheng Tan (PhD, SrMIEEE)
New Holland VN260 Grape Harvester Service Repair Manual Instant Download.pdf
New Holland VN260 Grape Harvester Service Repair Manual Instant Download.pdf
taishang3939
Similar a SKGF_Presentation_Biosimilars: Where Do We Stand and Where Are We Headed?_2008
(18)
In tech competence-based_curriculum_development_in_higher_education_a_globali...
In tech competence-based_curriculum_development_in_higher_education_a_globali...
Lessons from ligatt from national cyber security nationalcybersecurity com
Lessons from ligatt from national cyber security nationalcybersecurity com
Wealth and Happiness, Empirical Evidence from Indonesia
Wealth and Happiness, Empirical Evidence from Indonesia
Pen test pavol.luptak
Pen test pavol.luptak
1ª Antología. Segunda Parte
1ª Antología. Segunda Parte
Mortg Mod Flyer
Mortg Mod Flyer
New holland sb64 grape harvester service repair manual
New holland sb64 grape harvester service repair manual
New holland sb62 grape harvester service repair manual
New holland sb62 grape harvester service repair manual
New holland sb56 grape harvester service repair manual
New holland sb56 grape harvester service repair manual
New holland sb36 grape harvester service repair manual
New holland sb36 grape harvester service repair manual
New holland sb56 grape harvester service repair manual
New holland sb56 grape harvester service repair manual
New holland sb58 grape harvester service repair manual
New holland sb58 grape harvester service repair manual
New holland sb60 grape harvester service repair manual
New holland sb60 grape harvester service repair manual
New holland sb60 grape harvester service repair manual
New holland sb60 grape harvester service repair manual
New holland sb58 grape harvester service repair manual
New holland sb58 grape harvester service repair manual
New holland sb36 grape harvester service repair manual
New holland sb36 grape harvester service repair manual
Engineering Better Electric Powered Wheelchairs To Enhance Rehabilitative And...
Engineering Better Electric Powered Wheelchairs To Enhance Rehabilitative And...
New Holland VN260 Grape Harvester Service Repair Manual Instant Download.pdf
New Holland VN260 Grape Harvester Service Repair Manual Instant Download.pdf
Más de SterneKessler
Focus on Pharma: Creating, Protecting & Enforcing High-Value IP Assets
Focus on Pharma: Creating, Protecting & Enforcing High-Value IP Assets
SterneKessler
SKGF_Advisory_USPTO Bio-Chem-Pharma Customer Partnership Meeting_2006
SKGF_Advisory_USPTO Bio-Chem-Pharma Customer Partnership Meeting_2006
SterneKessler
SKGF_Advisory_US Design Patents Strengthened by Recent Federal Circuit Ruling...
SKGF_Advisory_US Design Patents Strengthened by Recent Federal Circuit Ruling...
SterneKessler
SKGF_Advisory_Two Questions Every Wind Energy Company Should Ask Itself_2009
SKGF_Advisory_Two Questions Every Wind Energy Company Should Ask Itself_2009
SterneKessler
SKGF_Advisory_The Blackberry Saga_2006
SKGF_Advisory_The Blackberry Saga_2006
SterneKessler
SKGF_Advisory_Strategies for Life Under the New USPTO Rules on Continuation a...
SKGF_Advisory_Strategies for Life Under the New USPTO Rules on Continuation a...
SterneKessler
SKGF_Advisory_SKGF Forms Stem Cell Task Force Advisory_2005
SKGF_Advisory_SKGF Forms Stem Cell Task Force Advisory_2005
SterneKessler
SKGF_Advisory_Reexamination Practice with Concurrent District Court or USITC ...
SKGF_Advisory_Reexamination Practice with Concurrent District Court or USITC ...
SterneKessler
SKGF_Advisory_Real World Impacts of Reexamination Practice and Procedure_2008
SKGF_Advisory_Real World Impacts of Reexamination Practice and Procedure_2008
SterneKessler
SKGF_Advisory_Preparing and Prosecuting a Patent that Holds up in Litigation_...
SKGF_Advisory_Preparing and Prosecuting a Patent that Holds up in Litigation_...
SterneKessler
SKGF_Advisory_Living in a Post KSR World_2007
SKGF_Advisory_Living in a Post KSR World_2007
SterneKessler
SKGF_Advisory_Federal Circuit Issues Decision in TAFAS v. Doll_2009
SKGF_Advisory_Federal Circuit Issues Decision in TAFAS v. Doll_2009
SterneKessler
SKGF_Advisory_Stem Cells-Patent Pools to the Rescue_2005
SKGF_Advisory_Stem Cells-Patent Pools to the Rescue_2005
SterneKessler
SKGF_Advisory_Nanotechnology Practice News_2005
SKGF_Advisory_Nanotechnology Practice News_2005
SterneKessler
SKGF_Presentation_What You Need To Know About The Proposed USPTO Rule Changes...
SKGF_Presentation_What You Need To Know About The Proposed USPTO Rule Changes...
SterneKessler
SKGF_Presentation_The Supreme Courts Renewed Interest In IP_April 2007
SKGF_Presentation_The Supreme Courts Renewed Interest In IP_April 2007
SterneKessler
SKGF_Presentation_The Gate Intellectual Property Groundwork_2004
SKGF_Presentation_The Gate Intellectual Property Groundwork_2004
SterneKessler
SKGF_Presentation_Stem Cells The Patent Landscape_2005
SKGF_Presentation_Stem Cells The Patent Landscape_2005
SterneKessler
SKGF_Presentation_SKGF Nanotube Patent Study_2004
SKGF_Presentation_SKGF Nanotube Patent Study_2004
SterneKessler
SKGF_Presentation_Nanotechnology IP Licensing Think Big, But Keep Your Feet O...
SKGF_Presentation_Nanotechnology IP Licensing Think Big, But Keep Your Feet O...
SterneKessler
Más de SterneKessler
(20)
Focus on Pharma: Creating, Protecting & Enforcing High-Value IP Assets
Focus on Pharma: Creating, Protecting & Enforcing High-Value IP Assets
SKGF_Advisory_USPTO Bio-Chem-Pharma Customer Partnership Meeting_2006
SKGF_Advisory_USPTO Bio-Chem-Pharma Customer Partnership Meeting_2006
SKGF_Advisory_US Design Patents Strengthened by Recent Federal Circuit Ruling...
SKGF_Advisory_US Design Patents Strengthened by Recent Federal Circuit Ruling...
SKGF_Advisory_Two Questions Every Wind Energy Company Should Ask Itself_2009
SKGF_Advisory_Two Questions Every Wind Energy Company Should Ask Itself_2009
SKGF_Advisory_The Blackberry Saga_2006
SKGF_Advisory_The Blackberry Saga_2006
SKGF_Advisory_Strategies for Life Under the New USPTO Rules on Continuation a...
SKGF_Advisory_Strategies for Life Under the New USPTO Rules on Continuation a...
SKGF_Advisory_SKGF Forms Stem Cell Task Force Advisory_2005
SKGF_Advisory_SKGF Forms Stem Cell Task Force Advisory_2005
SKGF_Advisory_Reexamination Practice with Concurrent District Court or USITC ...
SKGF_Advisory_Reexamination Practice with Concurrent District Court or USITC ...
SKGF_Advisory_Real World Impacts of Reexamination Practice and Procedure_2008
SKGF_Advisory_Real World Impacts of Reexamination Practice and Procedure_2008
SKGF_Advisory_Preparing and Prosecuting a Patent that Holds up in Litigation_...
SKGF_Advisory_Preparing and Prosecuting a Patent that Holds up in Litigation_...
SKGF_Advisory_Living in a Post KSR World_2007
SKGF_Advisory_Living in a Post KSR World_2007
SKGF_Advisory_Federal Circuit Issues Decision in TAFAS v. Doll_2009
SKGF_Advisory_Federal Circuit Issues Decision in TAFAS v. Doll_2009
SKGF_Advisory_Stem Cells-Patent Pools to the Rescue_2005
SKGF_Advisory_Stem Cells-Patent Pools to the Rescue_2005
SKGF_Advisory_Nanotechnology Practice News_2005
SKGF_Advisory_Nanotechnology Practice News_2005
SKGF_Presentation_What You Need To Know About The Proposed USPTO Rule Changes...
SKGF_Presentation_What You Need To Know About The Proposed USPTO Rule Changes...
SKGF_Presentation_The Supreme Courts Renewed Interest In IP_April 2007
SKGF_Presentation_The Supreme Courts Renewed Interest In IP_April 2007
SKGF_Presentation_The Gate Intellectual Property Groundwork_2004
SKGF_Presentation_The Gate Intellectual Property Groundwork_2004
SKGF_Presentation_Stem Cells The Patent Landscape_2005
SKGF_Presentation_Stem Cells The Patent Landscape_2005
SKGF_Presentation_SKGF Nanotube Patent Study_2004
SKGF_Presentation_SKGF Nanotube Patent Study_2004
SKGF_Presentation_Nanotechnology IP Licensing Think Big, But Keep Your Feet O...
SKGF_Presentation_Nanotechnology IP Licensing Think Big, But Keep Your Feet O...
Último
Introduction to Multilingual Retrieval Augmented Generation (RAG)
Introduction to Multilingual Retrieval Augmented Generation (RAG)
Zilliz
Cloud Frontiers: A Deep Dive into Serverless Spatial Data and FME
Cloud Frontiers: A Deep Dive into Serverless Spatial Data and FME
Safe Software
Elevate Developer Efficiency & build GenAI Application with Amazon Q
Elevate Developer Efficiency & build GenAI Application with Amazon Q
Bhuvaneswari Subramani
Why Teams call analytics are critical to your entire business
Why Teams call analytics are critical to your entire business
panagenda
Repurposing LNG terminals for Hydrogen Ammonia: Feasibility and Cost Saving
Repurposing LNG terminals for Hydrogen Ammonia: Feasibility and Cost Saving
Edi Saputra
[BuildWithAI] Introduction to Gemini.pdf
[BuildWithAI] Introduction to Gemini.pdf
Sandro Moreira
FWD Group - Insurer Innovation Award 2024
FWD Group - Insurer Innovation Award 2024
The Digital Insurer
presentation ICT roal in 21st century education
presentation ICT roal in 21st century education
jfdjdjcjdnsjd
Apidays New York 2024 - APIs in 2030: The Risk of Technological Sleepwalk by ...
Apidays New York 2024 - APIs in 2030: The Risk of Technological Sleepwalk by ...
apidays
Apidays New York 2024 - Passkeys: Developing APIs to enable passwordless auth...
Apidays New York 2024 - Passkeys: Developing APIs to enable passwordless auth...
apidays
Connector Corner: Accelerate revenue generation using UiPath API-centric busi...
Connector Corner: Accelerate revenue generation using UiPath API-centric busi...
DianaGray10
DBX First Quarter 2024 Investor Presentation
DBX First Quarter 2024 Investor Presentation
Dropbox
Architecting Cloud Native Applications
Architecting Cloud Native Applications
WSO2
Artificial Intelligence Chap.5 : Uncertainty
Artificial Intelligence Chap.5 : Uncertainty
Khushali Kathiriya
TrustArc Webinar - Unlock the Power of AI-Driven Data Discovery
TrustArc Webinar - Unlock the Power of AI-Driven Data Discovery
TrustArc
DEV meet-up UiPath Document Understanding May 7 2024 Amsterdam
DEV meet-up UiPath Document Understanding May 7 2024 Amsterdam
UiPathCommunity
"I see eyes in my soup": How Delivery Hero implemented the safety system for ...
"I see eyes in my soup": How Delivery Hero implemented the safety system for ...
Zilliz
Finding Java's Hidden Performance Traps @ DevoxxUK 2024
Finding Java's Hidden Performance Traps @ DevoxxUK 2024
Victor Rentea
Exploring Multimodal Embeddings with Milvus
Exploring Multimodal Embeddings with Milvus
Zilliz
Strategies for Landing an Oracle DBA Job as a Fresher
Strategies for Landing an Oracle DBA Job as a Fresher
Remote DBA Services
Último
(20)
Introduction to Multilingual Retrieval Augmented Generation (RAG)
Introduction to Multilingual Retrieval Augmented Generation (RAG)
Cloud Frontiers: A Deep Dive into Serverless Spatial Data and FME
Cloud Frontiers: A Deep Dive into Serverless Spatial Data and FME
Elevate Developer Efficiency & build GenAI Application with Amazon Q
Elevate Developer Efficiency & build GenAI Application with Amazon Q
Why Teams call analytics are critical to your entire business
Why Teams call analytics are critical to your entire business
Repurposing LNG terminals for Hydrogen Ammonia: Feasibility and Cost Saving
Repurposing LNG terminals for Hydrogen Ammonia: Feasibility and Cost Saving
[BuildWithAI] Introduction to Gemini.pdf
[BuildWithAI] Introduction to Gemini.pdf
FWD Group - Insurer Innovation Award 2024
FWD Group - Insurer Innovation Award 2024
presentation ICT roal in 21st century education
presentation ICT roal in 21st century education
Apidays New York 2024 - APIs in 2030: The Risk of Technological Sleepwalk by ...
Apidays New York 2024 - APIs in 2030: The Risk of Technological Sleepwalk by ...
Apidays New York 2024 - Passkeys: Developing APIs to enable passwordless auth...
Apidays New York 2024 - Passkeys: Developing APIs to enable passwordless auth...
Connector Corner: Accelerate revenue generation using UiPath API-centric busi...
Connector Corner: Accelerate revenue generation using UiPath API-centric busi...
DBX First Quarter 2024 Investor Presentation
DBX First Quarter 2024 Investor Presentation
Architecting Cloud Native Applications
Architecting Cloud Native Applications
Artificial Intelligence Chap.5 : Uncertainty
Artificial Intelligence Chap.5 : Uncertainty
TrustArc Webinar - Unlock the Power of AI-Driven Data Discovery
TrustArc Webinar - Unlock the Power of AI-Driven Data Discovery
DEV meet-up UiPath Document Understanding May 7 2024 Amsterdam
DEV meet-up UiPath Document Understanding May 7 2024 Amsterdam
"I see eyes in my soup": How Delivery Hero implemented the safety system for ...
"I see eyes in my soup": How Delivery Hero implemented the safety system for ...
Finding Java's Hidden Performance Traps @ DevoxxUK 2024
Finding Java's Hidden Performance Traps @ DevoxxUK 2024
Exploring Multimodal Embeddings with Milvus
Exploring Multimodal Embeddings with Milvus
Strategies for Landing an Oracle DBA Job as a Fresher
Strategies for Landing an Oracle DBA Job as a Fresher
SKGF_Presentation_Biosimilars: Where Do We Stand and Where Are We Headed?_2008
1.
%LRVLPLODUV :KHUH 'R
:H 6WDQG DQG :KHUH $UH :H +HDGHGquot; 7LPRWK - 6KHD -U /(6, $QQXDO 0HHWLQJ 9LQFHQW / &DSXDQR &KLFDJR ,/ ± 0D
2.
2YHUYLHZ ‡ , /HJLVODWLRQ
DQG ,QYHVWPHQW ‡ ,, 7HFKQLFDO ,VVXHV ‡ ,,, ,PPXQRJHQLFLW DQG ,QWHUFKDQJHDELOLW ‡ ,9 'DWD ([FOXVLYLW DQG 3DWHQW 6FKHPH ‡ 9 (3 ([SHULHQFH ‡ 9, 3UHGLFWLQJ WKH 8 6 0DUNHW
3.
2YHUYLHZ ‡ :KHUH 'R
:H 6WDQGquot; ± 7KH 3ROLWLFDO &OLPDWH ± 7KH /HJLVODWLYH &OLPDWH ‡ $QDOVLV RI + 5 ± 7KH 5HJXODWRU &OLPDWH ‡ 7HFKQLFDO LVVXHV ‡ ,PPXQRJHQLFLW DQG ,QWHUFKDQJHDELOLW ‡ 'DWD H[FOXVLYLW DQG SDWHQW VFKHPH ‡ :KHUH $UH :H +HDGHGquot; ± 3UHGLFWLQJ WKH 8 6 5HJXODWRU )UDPHZRUN ‡ ,QVLJKWV IURP WKH (8 H[SHULHQFH ± 3UHGLFWLQJ WKH 8 6 0DUNHW ‡ 7KH OLNHO SODHUV ‡ 5LVN UHZDUG DQDOVLV ‡ &RQIOLFW LVVXHV
4.
7KH 3ROLWLFDO &OLPDWH
± $ 3HUIHFW 6WRUP ‡ 7KH %LRSKDUPDFHXWLFDO PDUNHW LV UDSLGO JURZLQJ ± &XUUHQWO % PDUNHW ± 3UHGLFWHG WR EH RI HQWLUH WKHUDSHXWLF PDUNHW ZLWKLQ HDUV ± *URZWK UDWH LV [ WKDW RI VPDOO PROHFXOH PDUNHW ‡ % LQ ELRWHFK SURGXFWV RII SDWHQW E ± 6RPH HVWLPDWHV DV KLJK DV % ‡ &XUUHQWO QR OHJLVODWLYH RU UHJXODWRU IUDPHZRUN IRU DSSURYLQJ ELRVLPLODUV LQ 8 6 ‡ 3UHVVXUH IURP &RQVXPHU $GYRFDF *URXSV ± %LRSKDUPDFHXWLFDOV DUH LQFUHDVLQJ FRPSRQHQW RI 0HGLFDUH 0HGLFDLG FRVWV ± 7RS 0HGLFDUH H[SHQGLWXUHV DUH ELRORJLFDOV :D[PDQ ± (32 DORQH % ± &RVW FRPSDULVRQ ‡ 7UDGLWLRQDO VPDOO PROHFXOH GUXJ GD ‡ 7SLFDO ELRORJLF GD
5.
7KH 3ROLWLFDO &OLPDWH
± $ 3HUIHFW 6WRUP ‡ 3UHVVXUH IURP &RQJUHVV ± &RVW RI KHDOWKFDUH SDUWLFXODUO IRU VHQLRUV LV KRW LVVXH ± 8QGHU ³SD JR´ UXOH ORZHU GUXJ H[SHQGLWXUHV FDQ RIIVHW FRVWV RI RWKHU QHZ OHJLVODWLYH SURJUDPV ‡ 3UHVVXUH IURP ,QGXVWU ± %,2 QRZ UHFRJQL]HV ELRVLPLODUV DUH D PDWWHU RI ZKHQ QRW ,I ‡ ZDQWV ³ULJKW´ OHJLVODWLRQ QRZ EHIRUH QHZ &RQJUHVV ± *3K$ ZDQWV OHJLVODWLRQ VRRQ EXW FRQFHUQHG DERXW GDWD H[FOXVLYLW ‡ %XVK %XGJHW ± LQFHQWLYHV WR )'$ HVWDEOLVK ELRVLPLODU UHJXODWRU IUDPHZRUN
6.
, /HJLVODWLRQ DQG
,QYHVWPHQW ‡ %/$ IRU %LRVLPLODU 5HTXLUHPHQWV +RXVH ELOO ± $SSOLFDQW PXVW GHPRQVWUDWH WKDW ‡ 3URGXFW LV ³ELRVLPLODU´ WR D UHIHUHQFH SURGXFW ‡ 3URGXFW DQG UHIHUHQFH SURGXFW XWLOL]H WKH VDPH PHFKDQLVP RI DFWLRQ IRU WKH FRQGLWLRQ RI XVH ‡ &RQGLWLRQ RI XVH KDV EHHQ SUHYLRXVO DSSURYHG IRU UHIHUHQFH SURGXFW ‡ 5RXWH RI DGPLQLVWUDWLRQ GRVDJH IRUP DQG VWUHQJWK DUH VDPH DV UHIHUHQFH SURGXFW ‡ )DFLOLW PHHWV VWDQGDUGV WR DVVXUH VDIHW SXULW DQG SRWHQF
7.
, /HJLVODWLRQ DQG
,QYHVWPHQW ‡ ³%LRVLPLODULW´ 'DWD 5HTXLUHPHQWV )'$ GLVFUHWLRQ WR ZDLYH ± $QDOWLFDO VWXGLHV ‡ GHPRQVWUDWLQJ WKDW SURGXFW LV ³KLJKO VLPLODU´ WR UHIHUHQFH SURGXFW ± $QLPDO VWXGLHV ‡ LQFOXGLQJ WR[LFLW ± &OLQLFDO VWXG RU VWXGLHV ‡ WR DVVHVV LPPXQRJHQLFLW DQG SKDUPDFRNLQHWLFV RU SKDUPDFRGQDPLFV WR GHPRQVWUDWH VDIHW SXULW DQG SRWHQF IRU HDFK XVH
8.
, /HJLVODWLRQ DQG
,QYHVWPHQW ‡ +RXVH ELOO FRQWLQXHG ± %LRVLPLODULW ,QWHUFKDQJHDELOLW DQG ,PPXQRJHQLFLW FULWHULD DOO GHWHUPLQHG E )'$ JXLGDQFH SURFHHGLQJ IRU HDFK SURGXFW FODVV
9.
, /HJLVODWLRQ DQG
,QYHVWPHQW ‡ 6XEPLVVLRQ RI $SSOLFDWLRQ IRU %LRVLPLODU +RXVH ELOO ± $SSOLFDWLRQ PD QRW EH VXEPLWWHG XQWLO WKH ODWHU RI &RPPHQFHPHQW RI JXLGDQFH SURFHVV IRU SURGXFW FODVV RU HDUV IURP DSSURYDO RI UHIHUHQFH SURGXFW 1R )'$ DSSURYDO XQWLO JXLGDQFH SURFHVV LV FRPSOHWHG
10.
, /HJLVODWLRQ DQG
,QYHVWPHQW ‡ $GGLWLRQDO %/$ ,QIRUPDWLRQ ± 6KDOO LQFOXGH SXEOLFO DYDLODEOH LQIRUPDWLRQ UHJDUGLQJ SUHYLRXV )'$ GHWHUPLQDWLRQ RI VDIHW SXULW DQG WR[LFLW ± 0D LQFOXGH RWKHU LQIRUPDWLRQ LQFOXGLQJ SXEOLFO DYDLODEOH LQIRUPDWLRQ UHJDUGLQJ WKH UHIHUHQFH SURGXFW RU DQRWKHU ELRORJLFDO SURGXFW
11.
, /HJLVODWLRQ DQG
,QYHVWPHQW ‡ 1HHG IRU FOLQLFDO PDQXIDFWXULQJ UHJXODWRU DQG VDOHV H[SHUWLVH VXJJHVWV WKDW IHZ JHQHULF FRPSDQLHV ZLOO FRPSHWH ZLWK %LJ 3KDUPD %LRWHFK ‡ (VWLPDWHG 0 LQYHVWPHQW UHTXLUHG IRU ELRVLPLODU DSSURYDO
12.
, /HJLVODWLRQ DQG
,QYHVWPHQW ‡ 7ZR IDFWRUV GULYLQJ WKH GHEDWH RYHU ELRVLPLODUV +DWFK :D[PDQ H[SHULHQFH ZLWK VPDOO PROHFXOHV &RPSOH[LW RI ELRORJLFDO SURGXFWV FRPSDUHG WR VPDOO PROHFXOHV
13.
, /HJLVODWLRQ DQG
,QYHVWPHQW ‡ +DWFK :D[PDQ ,PSDFW ± 8 6 6DOHV ‡ %UDQG % ‡ *HQHULF % ± RI GUXJV ZLWK 2UDQJH %RRN OLVWLQJV KDYH JHQHULF FRXQWHUSDUWV 6RXUFH )'$ 0HG$G 1HZV
14.
, /HJLVODWLRQ DQG
,QYHVWPHQW ‡ % ELRSKDUPDFHXWLFDOV ZLOO UHSUHVHQW RI WKH SKDUPDFHXWLFDO PDUNHW ± ZDV LQ 3K50$ VXUYH ‡ ELRSKDUPDFHXWLFDOV H[LVWHG LQ -XO ZLWK QHZ ELRSKDUPDFHXWLFDOV LQ GHYHORSPHQW PRVWO RQFRORJ LQIHFWLRXV DQG DXWRLPPXQH GLVHDVHV UHVSLUDWRU GLVRUGHUV 3K50$
15.
,, 7HFKQLFDO ,VVXHV ‡
,PSRUWDQW &RQVLGHUDWLRQV IRU %LRVLPLODUV ± 6L]H FRPSOH[LW ± 3URWHLQ IROGLQJ ± 9DULDQWV ,PSXULWLHV ± &HOO OLQH ± 3XULILFDWLRQ SURFHVV
16.
,, 7HFKQLFDO ,VVXHV ‡
+LJK FRPSOH[LW /LWWOH NQRZOHGJH 1HHG IRU FOLQLFDO GDWD ‡ ([DPSOH 5HFRPELQDQW LQWHUIHURQ LQWHUDFWV ZLWK QHDUO JHQHV ± H[DFW PRGH RI DFWLRQ GLIILFXOW WR SUHGLFW DQG H[SORUH ‡ ([DPSOH 5HFRPELQDQW HUWKURSRHWLQV GLIIHUHQFHV LQ FDUERKGUDWH VWUXFWXUH DQG VLDOLF DFLG UHVLGXHV
17.
,, 7HFKQLFDO ,VVXHV ‡
,PSRUWDQFH RI PDQXIDFWXULQJ SURFHVV FRQWURO ± (DFK PDQXIDFWXUHU¶V XQLTXH FHOO OLQH LV FRQVWUXFWHG ZLWK D XQLTXH SURSULHWDU '1$ H[SUHVVLRQ YHFWRU ± &HOO OLQH PXVW EH HYDOXDWHG IRU SURGXFW LQWHJULW DFWLYLW DQG RYHUDOO TXDOLW ± 0LQRU YDULDWLRQV FDQ OHDG WR LPSRUWDQW SURGXFW GLIIHUHQFHV WKDW LPSDFW VDIHW DQG SRWHQF ± ([SHULHQFH ZLOO OHDG WR SUHGLFWDELOLW
18.
,, 7HFKQLFDO ,VVXHV ‡
0R]PH DOJOXFRVLGDVH DOSKD ± )'$ UHMHFWHG *HQ]PH¶V UHTXHVW WR DGG D PDQXIDFWXULQJ VLWH ‡ )'$ LV FRQFHUQHG DERXW VOLJKW GLIIHUHQFHV LQ FDUERKGUDWH VWUXFWXUH DQG UHTXLUHV PRUH KXPDQ GDWD IRU SURGXFW PDGH DW UHTXHVWHG VLWH
19.
,,, ,PPXQRJHQLFLW DQG
,QWHUFKDQJHDELOLW ‡ ,PPXQRJHQLFLW +RXVH ELOO ± )'$ PD ZDLYH DVVHVVPHQW RI LPPXQRJHQLFLW DV XQQHFHVVDU RQO LI ILQDO JXLGDQFH LV SXEOLVKHG DIWHU UHFHLSW DQG FRQVLGHUDWLRQ RI SXEOLF FRPPHQW ‡ DGYLVLQJ WKDW LW LV IHDVLEOH WR PDNH LPPXQRJHQLFLW GHWHUPLQDWLRQ IRU WKH SURGXFW LQ WKH SURGXFW FODVV DQG ‡ H[SODLQLQJ WKH GDWD UHTXLUHG WR VXSSRUW VXFK D GHWHUPLQDWLRQ
20.
,,, ,PPXQRJHQLFLW DQG
,QWHUFKDQJHDELOLW ‡ 3RWHQWLDO FRQVHTXHQFHV RI LPPXQRJHQLFLW ± /RVV RU HQKDQFHPHQW RI HIILFDF ± 1HXWUDOL]DWLRQ RI D QDWLYH SURWHLQ ± *HQHUDO LPPXQH HIIHFWV DOOHUJ DQDSKOD[LV VHUXP VLFNQHVV ‡ ([DPSOH SURGXFWLRQ RI QHXWUDOL]LQJ DQWLERGLHV DJDLQVW UHFRPELQDQW HWKURSRHWLQ FDXVHG VHYHUH HSRHWLQ UHVLVWDQW DQHPLD UHTXLULQJ EORRG WUDQVIXVLRQV LPPXQRVXSSUHVVLYH WUHDWPHQW DQG NLGQH WUDQVSODQWDWLRQ
21.
,,, ,PPXQRJHQLFLW DQG
,QWHUFKDQJHDELOLW ‡ ,QWHUFKDQJHDELOLW +RXVH ELOO ± )'$ PD GHWHUPLQH WKDW ELRORJLFDO SURGXFW LV LQWHUFKDQJHDEOH ZLWK UHIHUHQFH SURGXFW LI LQIRUPDWLRQ LV VXIILFLHQW WR VKRZ WKDW ELRORJLFDO SURGXFW ‡ LV ELRVLPLODU WR WKH UHIHUHQFH SURGXFW RU DQ SURGXFW IRXQG WR EH LQWHUFKDQJHDEOH ZLWK UHIHUHQFH SURGXFW ‡ FDQ EH H[SHFWHG WR SURGXFH WKH VDPH FOLQLFDO UHVXOW DV UHIHUHQFH SURGXFW LQ DQ JLYHQ SDWLHQW IRU HDFK XVH SUHVFULEHG UHFRPPHQGHG RU VXJJHVWHG LQ UHIHUHQFHG SURGXFW ODEHOLQJ DQG ‡ )RU SURGXFW DGPLQLVWHUHG PRUH WKDQ RQFH WKH ULVN LQ WHUPV RI VDIHW RU GLPLQLVKHG HIILFDF RI DOWHUQDWLQJ RU VZLWFKLQJ LV QRW JUHDWHU WKDQ WKH ULVN ZLWKRXW DOWHUQDWLQJ RU VZLWFKLQJ
22.
,,, ,PPXQRJHQLFLW DQG
,QWHUFKDQJHDELOLW ‡ ,QDSSURSULDWH VXEVWLWXWLRQ RFFXUV ZKHQ ± 3KDUPDFLVW RYHUULGHV SUHVFULSWLRQ DQG FKRRVHV D SURGXFW IURP WKH VDPH FODVV RU ± 3UHVFULSWLRQ OLVWV SURGXFW FODVV EXW GRHVQ¶W VSHFLI SURGXFW DQG SKDUPDFLVW FKRRVHV EDVHG RQ SULFH RU SHUVRQDO H[SHULHQFH
23.
,,, ,PPXQRJHQLFLW DQG
,QWHUFKDQJHDELOLW ‡ ([FOXVLYLW IRU )LUVW ,QWHUFKDQJHDEOH 3URGXFW +RXVH ELOO ± 1RW VDPH DV ILUVW ³ELRVLPLODU´ ± 1R VXEVHTXHQW GHWHUPLQDWLRQ RI LQWHUFKDQJHDELOLW XQWLO PRQWKV IURP ODWHU RI ‡ )LUVW FRPPHUFLDO PDUNHWLQJ RI LQWHUFKDQJHDEOH SURGXFW RU ‡ 'DWH RI LQWHUFKDQJHDELOLW GHWHUPLQDWLRQ IRU SURGXFW SUHYLRXVO PDUNHWHG
24.
,9 'DWD ([FOXVLYLW
DQG 3DWHQW 6FKHPH ‡ +RXVH %LOO ± XS WR HDUV ± HDU H[FOXVLYLW IRU UHIHUHQFH SURGXFW ± WZR DGGLWLRQDO HDUV RI H[FOXVLYLW LI VXEVHTXHQW DSSURYDO IRU QHZ LQGLFDWLRQ ZLWKLQ ILUVW HDUV LI QHZ DSSURYDO LV D ³VLJQLILFDQW LPSURYHPHQW´ FRPSDUHG WR PDUNHWHG SURGXFWV ± PRQWKV 3(' H[FOXVLYLW
25.
,9 'DWD ([FOXVLYLW
DQG 3DWHQW 6FKHPH ‡ 3DWHQWV ([FKDQJH RI ,QIRUPDWLRQ +RXVH %LOO ± ([FKDQJH ZLWK 5HIHUHQFH 3URGXFW 6SRQVRU 536 ‡ %LRVLPLODU OLFHQVH DSSOLFDQW PXVW SURYLGH FRS RI DSSOLFDWLRQ DQG LQIRUPDWLRQ FRQFHUQLQJ SURGXFW PDQXIDFWXULQJ GHWDLOV HWF WR 536 ZLWKLQ GDV RI )'$ DFFHSWDQFH RI DSSOLFDWLRQ ‡ 536 SURYLGHV DSSOLFDQW ZLWK OLVW RI UHOHYDQW SDWHQWV RZQHG E VSRQVRU ZLWKLQ GDV RI UHFHLSW RI DSSOLFDWLRQ DQG LQIRUPDWLRQ
26.
,9 'DWD ([FOXVLYLW
DQG 3DWHQW 6FKHPH ‡ 3DWHQWV ([FKDQJH RI ,QIRUPDWLRQ +RXVH %LOO ± ([FKDQJH ZLWK ,QWHUHVWHG 7KLUG 3DUWLHV ,73 ‡ $Q WLPH DIWHU )'$ SXEOLVKHV QRWLFH RI DSSOLFDWLRQ DQ ,73 PD QRWLI DSSOLFDQW WKDW ,73 KDV RU PRUH SDWHQWV WKDW PD EH UHOHYDQW ‡ :LWKLQ GDV RI UHFHLSW DSSOLFDQW VKDOO VHQG ,73 DSSOLFDWLRQ DQG LQIRUPDWLRQ FRQFHUQLQJ SURGXFW LQFOXGLQJ PDQXIDFWXULQJ LQIRUPDWLRQ HWF ‡ :LWKLQ GDV RI UHFHLYLQJ LQIRUPDWLRQ ,73 VKDOO SURYLGH OLVW RI UHOHYDQW SDWHQWV
27.
,9 'DWD ([FOXVLYLW
DQG 3DWHQW 6FKHPH ‡ 3DWHQWV ± ,GHQWLILFDWLRQ IRU EDVLV RI LQIULQJHPHQW +RXVH %LOO ± )RU DQ SDWHQW LGHQWLILHG 5)3 RU ,73 ‡ 6KDOO H[SODLQ LQ ZULWLQJ ZK WKH UHOHYDQW SDWHQW ZRXOG EH LQIULQJHG E WKH ELRVLPLODU SURGXFW RU LWV XVH LQ WKH LQGLFDWHG WUHDWPHQW ‡ 0D VSHFLI ZKHWKHU WKH SDWHQW LV DYDLODEOH IRU OLFHQVLQJ DQG ‡ 6KDOO VSHFLI WKH QXPEHU DQG H[SLUDWLRQ GDWH RI WKH UHOHYDQW SDWHQW
28.
,9 'DWD ([FOXVLYLW
DQG 3DWHQW 6FKHPH ‡ 3DWHQWV ± 3DWHQW FHUWLILFDWLRQ E DSSOLFDQW +RXVH %LOO ± 1RW ODWHU WKDQ GDV DIWHU UHFHLYLQJ EDVLV IRU LQIULQJHPHQW DSSOLFDQW VKDOO VHQG D ZULWWHQ VWDWHPHQW WR WKH 536 RU ,73 HLWKHU ‡ D VWDWLQJ WKDW DSSOLFDQW ZLOO QRW FRPPHQFH PDUNHWLQJ DQG QRW VHHN )'$ DSSURYDO EHIRUH WKH H[SLUDWLRQ GDWH RI WKH QRWLFHG SDWHQW RU ‡ E SURYLGLQJ D GHWDLOHG ZULWWHQ H[SODQDWLRQ RI WKH UHDVRQV ZK WKH SDWHQW ZRXOG QRW EH LQIULQJHG LV LQYDOLG RU LV XQHQIRUFHDEOH
29.
,9 'DWD ([FOXVLYLW
DQG 3DWHQW 6FKHPH ‡ 3DWHQWV ± $FWLRQ IRU ,QIULQJHPHQW +RXVH %LOO ± ,I LQIULQJHPHQW DFWLRQ EURXJKW ZLWKLQ GDV RI UHFHLSW RI ZULWWHQ VWDWHPHQW DQG SDWHQW IRXQG WR EH LQIULQJHG WKHQ )'$ PD QRW DSSURYH DSSOLFDWLRQ XQWLO DIWHU SDWHQW H[SLUDWLRQ ± '- DFWLRQ PD QRW EH ILOHG PRUH WKDQ HDUV EHIRUH H[SLUDWLRQ RI )'$ H[FOXVLYLW
30.
9 7KH (XURSHDQ
3HUVSHFWLYH ‡ ³6LPLODU ELRORJLFDO PHGLFLQDO SURGXFWV´ ‡ /HJDO IUDPHZRUN H[LVWV UHJXODWRU IUDPHZRUN LV GHYHORSLQJ ‡ ³ELRVLPLODUV´ DSSURYHG WR GDWH E (0($ ± 2PQLWURSH 6DQGR] ILUVW ELRVLPLODU DSSURYHG E (0($ ± 9DOWURSLQ %LRSDUWQHUV ± %LQRFULW 6DQGR] ± (SRHWLQ DOID +H[DO ± $EVHDPHG 0HGLFH $U]QHLPLWWHO 3WWHU
31.
9 7KH (XURSHDQ
3HUVSHFWLYH ‡ &RUH 3ULQFLSOHV ± %LRORJLFDO PHGLFLQDO SURGXFWV DUH PXFK PRUH GLIILFXOW WR FKDUDFWHUL]H WKDQ VPDOO PROHFXOHV ‡ %URDG VSHFWUXP RI FRPSOH[LW DFURVV ELRORJLFDO SURGXFWV ± 7KH VWDQGDUG JHQHULF DSSURDFK QRUPDOO DSSOLHG WR VPDOO PROHFXOHV LV ³VFLHQWLILFDOO QRW DSSURSULDWH´ IRU ELRORJLFDOV ± 3DWLHQW VDIHW LV SDUDPRXQW LQ (0($ GHFLVLRQ
32.
9 7KH (XURSHDQ
3HUVSHFWLYH ‡ &RUH SULQFLSOHV ± 'HFLVLRQV VKRXOG EH PDGH RQ FDVH E FDVH EDVLV DQG GLFWDWHG E WKH VFLHQFH ± 7KH WR[RORJLFDO DQG FOLQLFDO SURILOH RI WKH ELRVLPLODU ³VKDOO EH SURYLGHG´ ± $ ZHOO GHILQHG UHJXODWRU IUDPHZRUN FDQ RQO EH GHYHORSHG RYHU WLPH EDVHG RQ H[SHULHQFH DQG LQFUHDVHG VFLHQWLILF NQRZOHGJH ± 3DWLHQWV DQG SKVLFLDQV PXVW EH LQIRUPHG LQ WKH HYHQW RI WKH VXEVWLWXWLRQ RI DQ RULJLQDO SURGXFW E D VLPLODU ELRORJLFDO SURGXFW
33.
9 7KH (XURSHDQ
3HUVSHFWLYH ‡ /HJLVODWLYH $XWKRULW ± &RPPLVVLRQ 'LUHFWLYH (& ‡ 5HJXODWRU $XWKRULW ± 2YHUDUFKLQJ *XLGHOLQH &+03 ‡ 'HILQHV FRUH SULQFLSOHV ± *HQHUDO *XLGHOLQHV IRU %LRWHFKQRORJ 'HULYHG 3URWHLQV ‡ 4XDOLW ‡ 1RQFOLQLFDO ‡ &OLQLFDO ± $QQH[ JXLGHOLQHV ±SURGXFW VSHFLILF ‡ ,QVXOLQ 6RPDWURSLQ *&6) (SRHWLQ ,1) DOSKD 2WKHUV
34.
9, 3UHGLFWLQJ WKH
8 6 %LRVLPLODUV 0DUNHW ‡ )'$ 3ROLF LQ GHYHORSPHQW ± )RFXV RQ SXEOLF KHDOWK ± 6FLHQFH EDVHG ‡ 5HFRJQL]H ZKDW FDQ DQG FDQ¶W EH GRQH ‡ 'DWD GULYHQ ‡ )OH[LEOH WR UHIOHFW FKDQJLQJ WHFKQRORJLHV ± 6RXQGV D ORW OLNH (0($ FRUH SULQFLSOHV ‡ *HQ]PH H[SHULHQFH ZLWK 0R]PH ± 6XJJHVW FDUHIXO DSSURDFK E )'$ UHJDUGLQJ PDQXIDFWXULQJ IRU ELRVLPLODUV
35.
9, 3UHGLFWLQJ WKH
8 6 %LRVLPLODUV 0DUNHW ‡ 5HJXODWRU IUDPHZRUN ZLOO EH YHU GLIIHUHQW WKDQ WKDW IRU JHQHULF GUXJV ‡ .H GLIIHUHQFHV ± /LNHO UHTXLUHPHQW IRU FOLQLFDO WULDOV DW OHDVW LQLWLDOO ± +LJK WKUHVKROG IRU ³LQWHUFKDQJHDELOLW´ GHVLJQDWLRQ UHVXOWLQJ LQ IHZHU SURGXFWV EHLQJ GHHPHG VXEVWLWXWDEOH IRU UHIHUHQFH SURGXFW ± 6RPH FRPPHQWDWRUV HVWLPDWH 0 SHU ELRVLPLODU WR PHHW UHJXODWRU UHTXLUHPHQWV ± 3RWHQWLDO IRU SRVW PDUNHWLQJ PRQLWRULQJ
36.
9, 3UHGLFWLQJ WKH
8 6 %LRVLPLODUV 0DUNHW ‡ ,PSDFW RQ 0DUNHW ± *HQHULF GUXJ FRPSDQLHV ZLOO EH LQYROYHG ‡ 7HYD DFTXLVLWLRQV ± &R*HQHVV 6LFRU 7LDQMLQ +XDOLGD ‡ 6DQGR] ± 'HDO ZLWK 0RPHQWD ‡ %DUU DFTXLUHG 3OLYD ± +RZHYHU %LJ 3KDUPD DQG %LRWHFK ZLOO EH SODHUV WRR ‡ ([LVWLQJ H[SHUWLVH ZLWK ELRORJLF IRUPXODWLRQ DQG PDQXIDFWXULQJ ‡ ([SHUWLVH ZLWK FOLQLFDO WULDOV ‡ 6DOHV IRUFH FDSDELOLW NH LI ELRVLPLODU LV DOWHUQDWLYH WUHDWPHQW ‡ &DSLWDO WR LQYHVW
37.
9, 3UHGLFWLQJ WKH
8 6 %LRVLPLODUV 0DUNHW ‡ %LRVLPLODUV ZLOO KDYH GLIIHUHQW ULVN UHZDUG UDWLR WKDQ VPDOO PROHFXOH JHQHULFV ± +LJKHU LQYHVWPHQW ‡ 2QH HVWLPDWH LV 0 SHU ELRVLPLODU SURGXFW ± 3UHGLFWHG ORZHU PDUNHW SHQHWUDWLRQ UDWHV FRPSDUHG WR WSLFDO VPDOO PROHFXOH GUXJV ‡ 6PDOO PROHFXOHV XS WR SHQHWUDWLRQ UDWH ‡ %LRVLPLODUV RSWLPLVWLF HVWLPDWHV RI ± ³LQWHUFKDQJHDELOLW´ LV NH WR VXEVWLWXWLRQ EXW PRUH GLIILFXOW WR REWDLQ ‡ ([DPSOHV ± 2PQLWURSH 7HY 7URSLQ RI +*+ PDUNHW VWLOO HDUO ± 'QHSR PDUNHW SHQHWUDWLRQ H[SHFWHG E 6KLUH
38.
9, 3UHGLFWLQJ WKH
8 6 %LRVLPLODUV 0DUNHW ‡ &RQIOLFW ,VVXHV ± 7HFKQLFDO DQG UHJXODWRU GLIIHUHQFHV EHWZHHQ ELRVLPLODUV DQG VPDOO PROHFXOH JHQHULFV ZLOO SUHVHQW QHZ FKDOOHQJHV LQ UHVROYLQJ FRQIOLFWV RI LQWHUHVW ‡ )RU VPDOO PROHFXOH JHQHULFV DGYLVRUV DQG FRQVXOWDQWV DUH WSLFDOO VSOLW LQWR WZR FDPSV 1'$ KROGHUV YV JHQHULFV ‡ )RU ELRVLPLODUV EUDQG FRPSDQLHV ZLOO EH SODLQJ ERWK VLGHV WKXV DGYLVRUV DQG FRQVXOWDQWV PXVW DOVR ± &RQIOLFW UHVROXWLRQ ZLOO EH WHFKQRORJ GULYHQ ‡ $GYLVRUV DQG FRQVXOWDQWV FKRVHQ IRU WHFKQLFDO OHJDO H[SHUWLVH ‡ ([FOXVLYH DOOHJLDQFH WR EUDQG YV JHQHULF OHVV LPSRUWDQW
39.
&RQFOXVLRQV ‡ %LRVLPLODUV DUH
FRPLQJ VRRQHU UDWKHU WKDQ ODWHU ‡ &RPSOH[ QDWXUH RI ELRORJLFDOV ZLOO UHTXLUH VLJQLILFDQWO GLIIHUHQW UHJXODWRU VFKHPH WKDQ VPDOO PROHFXOHV ‡ (XURSHDQ H[SHULHQFH ZLOO LQIRUP )'$ SROLF ‡ &OLQLFDO WULDOV SUHVXPHG DW OHDVW LQLWLDOO ‡ +LJKHU EDUULHU WR HQWU DQG JUHDWHU ULVN WR UHZDUG ‡ )HZHU PRUH VRSKLVWLFDWHG SODHUV LQFOXGLQJ ELJ SKDUPD DQG ELRWHFK
40.
7KDQN <RX
7LPRWK - 6KHD -U 'LUHFWRU 9LQFHQW / &DSXDQR 'LUHFWRU 6WHUQH .HVVOHU *ROGVWHLQ )R[ 3 / / & ZZZ VWHUQHNHVVOHU FRP
Descargar ahora