2
$ &+,/&2552),1 $QWLFRUURVLYR$OTXtGLFR &RQYHUWLGRUGH2[LGRD0DJQHWLWD (VWDKRMDWpFQLFDGHEHVHUFRQVLGHUDGDVyORXQDJXtDJHQHUDO\HQQLQJ~QFDVRFRQVWLWX\HXQD(VSHFLILFDFLyQ7pFQLFDSDUDDOJ~QXVRSDUWLFXODUGHOSURGXFWR3DUD FXDOTXLHUUHTXHULPLHQWRHVSHFtILFRIDYRUFRQVXOWDUQXHVWUR'HSDUWDPHQWRGH$VHVRUtD7pFQLFD &+,/&2552),1 HV XQ DQWLFRUURVLYR TXH DFW~D SRU &RQYHUVLyQ GHO 2[LGR D 0DJQHWLWD)H 2 (VWi IRUPXODGRHQEDVHDUHVLQDVDOTXtGLFDVPRGLILFDGDVODUJDVHQDFHLWH3UHVHQWDH[FHOHQWHVSURSLHGDGHV GH DGKHUHQFLD \ KXPHFWDFLyQ $FW~D KXPHFWDQGR HVWDELOL]DQGR H LQFRUSRUDQGR D OD SLQWXUD ORV y[LGRV tQWLPDPHQWHDGKHULGRVDOPHWDO)H2\)H 2 WUDQVIRUPiQGRORVHQy[LGRVHVWDEOHV)H 2 3523,('$'(6 N 'HELGR D VXV SURSLHGDGHV HVWDELOL]DGRUDV GHO y[LGR SRU FRQYHUVLyQ D 0DJQHWLWD HV DSOLFDEOH VREUHy[LGRILUPHPHQWHDGKHULGR N 5HGXFHORVFRVWRVHQWUDEDMRVGHPDQWHQFLyQSRU FRQFHSWR GH SUHSDUDFLyQ GH VXSHUILFLHV 6REUH VXEVWUDWRV DQWLJXRV SHUPLWH XQD SUHSDUDFLyQ GH VXSHUILFLHV PDQXDO PHFiQLFD JUDGR 663&63 \ 63 N 3RU VX FDUDFWHUtVWLFD ³ : ´ :DWHU 5HSHOOHQW SXHGH DSOLFDUVH HQ FRQGLFLRQHV GH KXPHGDG DPELHQWDOHOHYDGDKDVWD N 1RLQWHUILHUHDODUFRYROWDLFR N 1R RULJLQD KXPRV QL SROYRV Wy[LFRV DO VROGDU R DUHQDUHVWUXFWXUDVSLQWDGDVFRQHOSURGXFWR N 3LJPHQWDFLyQ QR Wy[LFD 1R FRQWLHQH 3ORPR &URPRQL=LQF N /D SLJPHQWDFLyQ GHO SURGXFWR HV TXtPLFDPHQWH LQHUWHDVDOHViFLGRV\iOFDOLV N (Q FDVR GH FRUWH R GDxR GH OD SLQWXUD KDVWD HO PHWDO EDVH OD DFFLyQ GHO SLJPHQWR DQWLFRUURVLYR SHUPLWH TXH OD FRUURVLyQ VH GHWHQJD HQ ORV ERUGHVQRFRQWLQXDQGREDMRODLQWHUIDVHPHWDO± SLQWXUD 8626 N $QWLFRUURVLYR GH XVR JHQHUDO HQ DPELHQWHV GH EDMD \ PRGHUDGD DJUHVLYLGDG ,QGLFDGR SDUD OD SURWHFFLyQ GH FDxHUtDV JDOSRQHV HVWUXFWXUDV VXSHUHVWUXFWXUDV GH EDUFRV WHFKRV HTXLSRV PDTXLQDULDV\H[WHULRUGHHVWDQTXHV &$5$&7(5Ë67,&$67e&1,&$6 &RORUHV 5RMR2[LGR\ 2FUH 7HUPLQDFLyQ 0DWH 6yOLGRVHQ9ROXPHQ 9LVFRVLGDG& 8. 3HVR(VSHFtILFR& 5HQGLPLHQWR7HyULFR P JOD PLOVVHFR )RUPDV$SOLFDFLyQ %URFKD3LVWROD$LUOHVV 'LOX\HQWH (VSHVRUVHFRFDSD PLOVUHFRPHQGDGR 7LHPSR6HFDGR7DFWR& KRUD 7LHPSR6HFDGR'XUR& KRUDV 7LHPSRGH5HSLQWDGR& KRUDV /LPSLH]DGH(TXLSRV )RUPDVGHVXPLQLVWUR (QYDVHGH\JO 1~PHURGH&RPSRQHQWHV 8QR 1~PHURGH&DSDV UHFRPHQGDGR (VWHUHQGLPLHQWRVXSRQHDSURYHFKDPLHQWRGHODSLQWXUD 3DUDFiOFXORGHOUHQGLPLHQWRSUiFWLFRUHDOGHEHFRQVLGHUDUVHODV SpUGLGDVSRUPpWRGR\OXJDUGHDSOLFDFLyQJHRPHWUtD GHODSLH]D H[SHULHQFLD GHO SLQWRU HWF (Q JHQHUDO VH GHEH FRQVLGHUDU XQD SpUGLGD SURPHGLR DSUR[LPDGD HQWUH XQ \ UHVSHFWR GHO UHQGLPLHQWRWHyULFR 35(3$5$&,Ï1'(683(5),&,(6 ),(5522$&(5218(92 N 'HVEDVWDUDULVWDVYLYDV\VROGDGXUDVPHGLDQWHHO XVRGHFKDVFRQHV\RHVPHULOHVDQJXODUHV N (OLPLQDU WRGR YHVWLJLR GH HVFRULD \ FKLVSRUURWHRV GHVROGDGXUD N /DVXSHUILFLHDVHUSURWHJLGDGHEHUiHVWDUH[HQWD GH WRGR UHVLGXR GH JUDVDV \ DFHLWHV FRQ TXH SXGLHUD HVWDU FRQWDPLQDGD (VWD OLPSLH]D GHEHUi HIHFWXDUVH GH DFXHUGR D OD QRUPD 663&63 /RV PHMRUHV UHVXOWDGRV VH REWLHQHQ XWLOL]DQGR 'HWHUJHQWH 1HXWUR :; GLOXLGR DO FRQ DJXD (QMXDJDU FRQ DEXQGDQWH DJXD GXOFH KDVWD HOLPLQDUORVUHVLGXRVGHGHWHUJHQWH\GHMDUVHFDU

CHILCORROFIN 43

Embed Size (px)

DESCRIPTION

CHILCORROFIN 43

Citation preview

Page 1: CHILCORROFIN 43

$��&+,/&2552),1�����$QWLFRUURVLYR�$OTXtGLFR��&RQYHUWLGRU�GH�2[LGR�D�0DJQHWLWD�

(VWD�KRMD�WpFQLFD�GHEH�VHU�FRQVLGHUDGD�VyOR�XQD�JXtD�JHQHUDO�\�HQ�QLQJ~Q�FDVR�FRQVWLWX\H�XQD�(VSHFLILFDFLyQ�7pFQLFD�SDUD�DOJ~Q�XVR�SDUWLFXODU�GHO�SURGXFWR��3DUD�FXDOTXLHU�UHTXHULPLHQWR�HVSHFtILFR�IDYRU�FRQVXOWDU�QXHVWUR�'HSDUWDPHQWR�GH�$VHVRUtD�7pFQLFD�

&+,/&2552),1����HV�XQ�DQWLFRUURVLYR TXH�DFW~D�SRU�&RQYHUVLyQ�GHO�2[LGR�D�0DJQHWLWD�)H�2����(VWi�IRUPXODGR�HQ�EDVH�D�UHVLQDV�DOTXtGLFDV�PRGLILFDGDV�ODUJDV�HQ�DFHLWH��3UHVHQWD�H[FHOHQWHV�SURSLHGDGHV�GH�DGKHUHQFLD�\�KXPHFWDFLyQ��$FW~D�KXPHFWDQGR��HVWDELOL]DQGR�H� LQFRUSRUDQGR�D� OD�SLQWXUD� ORV�y[LGRV�tQWLPDPHQWH�DGKHULGRV�DO�PHWDO��)H2�\�)H�2����WUDQVIRUPiQGRORV�HQ�y[LGRV�HVWDEOHV��)H�2���3523,('$'(6x 'HELGR� D� VXV� SURSLHGDGHV� HVWDELOL]DGRUDV� GHO�y[LGR� SRU� FRQYHUVLyQ� D� 0DJQHWLWD�� HV� DSOLFDEOH�VREUH�y[LGR�ILUPHPHQWH��DGKHULGR�x 5HGXFH��ORV�FRVWRV�HQ�WUDEDMRV�GH�PDQWHQFLyQ�SRU�FRQFHSWR� GH� SUHSDUDFLyQ� GH� VXSHUILFLHV�� 6REUH�VXEVWUDWRV� DQWLJXRV�� SHUPLWH� XQD� SUHSDUDFLyQ� GH�VXSHUILFLHV�PDQXDO�PHFiQLFD�JUDGR�663&�63��\�63��x 3RU� VX� FDUDFWHUtVWLFD� ³� :� ´� �:DWHU� 5HSHOOHQW�SXHGH� DSOLFDUVH� HQ� FRQGLFLRQHV� GH� KXPHGDG�DPELHQWDO�HOHYDGD��KDVWD������x 1R�LQWHUILHUH�DO�DUFR�YROWDLFR�x 1R� RULJLQD� KXPRV� QL� SROYRV� Wy[LFRV� DO� VROGDU� R�DUHQDU�HVWUXFWXUDV�SLQWDGDV�FRQ�HO�SURGXFWR�x 3LJPHQWDFLyQ� QR� Wy[LFD�� 1R� FRQWLHQH� 3ORPR��&URPR�QL�=LQF�x /D� SLJPHQWDFLyQ� GHO� SURGXFWR� HV� TXtPLFDPHQWH�LQHUWH�D�VDOHV��iFLGRV�\�iOFDOLV�x (Q� FDVR� GH� FRUWH� R� GDxR� GH� OD� SLQWXUD� KDVWD� HO�PHWDO� EDVH�� OD� DFFLyQ� GHO� SLJPHQWR� DQWLFRUURVLYR�SHUPLWH� TXH� OD� FRUURVLyQ� VH� GHWHQJD� HQ� ORV�ERUGHV���QR�FRQWLQXDQGR�EDMR�OD�LQWHUIDVH�PHWDO�±SLQWXUD�8626x $QWLFRUURVLYR� GH� XVR� JHQHUDO� HQ� DPELHQWHV� GH�EDMD� \� PRGHUDGD� DJUHVLYLGDG�� ,QGLFDGR� SDUD� OD�SURWHFFLyQ� GH� FDxHUtDV�� JDOSRQHV�� HVWUXFWXUDV��VXSHUHVWUXFWXUDV� GH� EDUFRV�� WHFKRV�� HTXLSRV��PDTXLQDULDV��\�H[WHULRU�GH�HVWDQTXHV�

&$5$&7(5Ë67,&$6�7e&1,&$6&RORUHV 5RMR�2[LGR�\ 2FUH7HUPLQDFLyQ 0DWH6yOLGRV�HQ�9ROXPHQ ������ ��9LVFRVLGDG�����&� ������ ��8.3HVR�(VSHFtILFR�����&� �������� ����5HQGLPLHQWR�7HyULFR���� ���P��JO��D�� PLOV�VHFR)RUPDV�$SOLFDFLyQ %URFKD��3LVWROD��$LUOHVV'LOX\HQWH �����(VSHVRU�VHFR�FDSD�� ����PLOV��UHFRPHQGDGR�7LHPSR�6HFDGR�7DFWR�����&� ��KRUD7LHPSR�6HFDGR�'XUR�����&� ���KRUDV7LHPSR�GH�5HSLQWDGR�����&� ���KRUDV/LPSLH]D�GH�(TXLSRV �����)RUPDV�GH�VXPLQLVWUR (QYDVH�GH���\���JO�1~PHUR�GH�&RPSRQHQWHV 8QR1~PHUR�GH�&DSDV ���UHFRPHQGDGR�����(VWH�UHQGLPLHQWR�VXSRQH������DSURYHFKDPLHQWR�GH�OD�SLQWXUD���3DUD�FiOFXOR�GHO�UHQGLPLHQWR�SUiFWLFR��UHDO���GHEH�FRQVLGHUDUVH�ODV�SpUGLGDV�SRU���PpWRGR�\�OXJDU�GH�DSOLFDFLyQ��JHRPHWUtD GH�OD�SLH]D��H[SHULHQFLD� GHO� SLQWRU�� HWF�� (Q� JHQHUDO� VH� GHEH� FRQVLGHUDU� XQD�SpUGLGD� SURPHGLR� DSUR[LPDGD� HQWUH� XQ� ��� \� ���� UHVSHFWR� GHO�UHQGLPLHQWR�WHyULFR��35(3$5$&,Ï1�'(�683(5),&,(6),(552�2�$&(52�18(92x 'HVEDVWDU�DULVWDV�YLYDV��\�VROGDGXUDV�PHGLDQWH�HOXVR�GH�FKDVFRQHV�\�R��HVPHULOHV�DQJXODUHV�x (OLPLQDU� WRGR� YHVWLJLR� GH�HVFRULD�\�FKLVSRUURWHRV�GH�VROGDGXUD�x /D�VXSHUILFLH�D�VHU�SURWHJLGD�GHEHUi�HVWDU�H[HQWD�GH� WRGR� UHVLGXR� GH� JUDVDV� \� DFHLWHV� FRQ� TXH�SXGLHUD�HVWDU�FRQWDPLQDGD��(VWD� OLPSLH]D�GHEHUiHIHFWXDUVH� GH� DFXHUGR� D� OD� QRUPD� 663&�63���/RV� PHMRUHV� UHVXOWDGRV� VH� REWLHQHQ� XWLOL]DQGR�'HWHUJHQWH� 1HXWUR� :;� � ����� GLOXLGR� DO� ��� FRQ�DJXD��(QMXDJDU� FRQ�DEXQGDQWH�DJXD�GXOFH�KDVWD�HOLPLQDU�ORV�UHVLGXRV�GH�GHWHUJHQWH�\�GHMDU�VHFDU�

Page 2: CHILCORROFIN 43

$��&+,/&2552),1���

/DV� LQGLFDFLRQHV�TXH� ILJXUDQ�HQ�HVWD�KRMD�WpFQLFD��HVWiQ�EDVDGDV�HQ�HQVD\RV�QRUPDOL]DGRV�\�H[SHULHQFLDV�GH�WHUUHQR�TXH�UHVSDOGDQ�WpFQLFDPHQWH�HVWH�SURGXFWR���6LQ�HPEDUJR��GDGR�TXH�QR�WHQHPRV�FRQWURO�VREUH�ODV�FRQGLFLRQHV�GH�DSOLFDFLyQ��GH�DOPDFHQDPLHQWR�R�GH�VHUYLFLR�GHO�SURGXFWR��QR�QRV�FRUUHVSRQGH�UHVSRQVDELOLGDG�DOJXQD�SRU� UHVXOWDGRV�GHILFLHQWHV� TXH�SXHGDQ�REWHQHUVH�HQ� FDGD� FDVR�SDUWLFXODU��3RU� OR�DQWHULRU�� HVFDSDQ�D�QXHVWUD� UHVSRQVDELOLGDG�SUREOHPDV�GH�UHQGLPLHQWRV��GHVHPSHxR�R�FXDOTXLHU�GDxR�LQFLGHQWDO�R�FRQVHFXHQFLDO��TXH�SXHGD�GHULYDUVH�GHO�XVR�LQDGHFXDGR�GHO�SURGXFWR���(VWH�SURGXFWR�SRGUi�HVWDU�VXMHWR�D�PRGLILFDFLRQHV�HQ�HO�WLHPSR��GH�DFXHUGR�DO�DYDQFH�\�GHVDUUROOR�GH�OD�WHFQRORJtD�&&++,,//&&22555522)),,1�1�66��$$��/R�(FKHYHUV������4XLOLFXUD��6DQWLDJR���)RQR���������� �������)D[���������� �������(�PDLO�FKLOFRUURILQ#FKLOFRUURILQ�FO

x 'HEH�HOLPLQDUVH�HO�y[LGR�GH�ODPLQDFLyQ�PHGLDQWH�FKRUUHR� DEUDVLYR� D� JUDGR� &DVL� 0HWDO� %ODQFR��VHJ~Q�QRUPD�663&�63���),(552�2�$&(52�$17,*82x 'HVEDVWDU�DULVWDV�YLYDV��\�VROGDGXUDV�PHGLDQWH�HO�XVR�GH�FKDVFRQHV�\�R��HVPHULOHV�DQJXODUHV�x (OLPLQDU� WRGR� YHVWLJLR� GH�HVFRULD�\�FKLVSRUURWHRVGH�VROGDGXUD�x 'HEH�HOLPLQDUVH�WRGD�VXFLHGDG��SROYR��SLQWXUD�PDO�DGKHULGD�� KHUUXPEUH�� y[LGR�GH� ODPLQDFLyQ�� VDOHV��iFLGRV�� iOFDOLV� \� FXDOTXLHU� RWUR� WLSR� GH�FRQWDPLQDQWH�� 6yOR� VH� DFHSWDUi� � DTXHOOD� SLQWXUD�DQWLJXD�PX\� ILUPHPHQWH�DGKHULGD�\�VLQ�FRUURVLyQ�EDMR�OD�SHOtFXOD�x &RPR� SURFHGLPLHQWR� GH� SUHSDUDFLyQ� GH�VXSHUILFLHV� GHEHUi� HPSOHDUVH� XQ� ODYDGR� FRQ�GHWHUJHQWH�QHXWUR�:;������VHJ~Q�OR�GHVFULWR�HQ�OD�QRUPD�663&�63��\�SRVWHULRU�FKRUUHR�DEUDVLYR�D�*UDGR� &RPHUFLDO�� 663&�63�� R� XQD� OLPSLH]D�0DQXDO�0HFiQLFD�663&�63���7DPELpQ�HV�SRVLEOH�FRQVLGHUDU� FRPR� PpWRGR� GH� OLPSLH]D�� OD�DSOLFDFLyQ� GH� FKRUUR� � GH� DJXD� D� DOWD� SUHVLyQ������������ SVL�� \� HO� KLGURDUHQDGR� D� ����� SVL��VHJ~Q�QRUPD�x &XDQGR� VH� HIHFW~H� OLPSLH]D� PHFiQLFD� \� H[LVWDQ�]RQDV� FRQ� FRUGRQHV� GH� VROGDGXUDV� QXHYDV��SRVWHULRU�D��OD�HOLPLQDFLyQ�GH�HVFRULDV��VH�GHEHUiQ�QHXWUDOL]DU�ORV�FRUGRQHV�KDVWD�S+��x (Q� VXSHUILFLHV� FRQ� SLWV� SURIXQGRV� VH� GHEHUi�HIHFWXDU�XQ�FKRUUHR�DEUDVLYR�D�&DVL�0HWDO�%ODQFR��VHJ~Q�QRUPD�663&�± 63����x 6L� VH� HPSOHDQ� SHUQRV� \� WXHUFDV� QXHYRV� HQ� OD�UHSDUDFLyQ� pVWRV�GHEHUiQ�HVWDU�H[HQWRV�GH�FKDSD�GH�ODPLQDFLyQ�*$/9$1,=$'2�2;,'$'2x 5HPRYHU�DFHLWHV�\�JUDVDV��VL�H[LVWLHUDQ��PHGLDQWH�GHWHUJHQWH�1HXWUR�:;�����GLOXLGR�DO�����HQ�DJXD�GXOFH����/DYDU�FRQ�DEXQGDQWH�DJXD�GXOFH�\�OLPSLD��'HMDU�VHFDU�x (OLPLQDU�ORV�y[LGRV \�SLQWXUD�PDO�DGKHULGRV��SROYR�\� SLQWXUD� HQYHMHFLGD� PHGLDQWH� PpWRGRV�PHFiQLFRV�\�PDQXDOHV�x 5HPDQHQWHV� GH� 6DOLQLGDG�� $FLGH]� \� $OFDOLQLGDG��VH� ODYDQ�FRQ�DEXQGDQWH�DJXD�GXOFH�\�UHVWUHJDGR�KDVWD�VX�FRPSOHWD�HOLPLQDFLyQ���DOFDQ]DQGR�XQ�S+����QHXWUR�

x 'HVPDQFKDU� �UHWRTXH��� DSOLFDQGR� XQD� FDSD� GH�&+,/&2552),1� ��� HQ� ODV� ]RQDV� R[LGDGDV�� /XHJR�DSOLFDU�XQD�FDSD�JHQHUDO�D�WRGD�OD�VXSHUILFLH��$SOLFDU�HO�UHVWR�GHO�HVTXHPD�HVSHFLILFDGR(60$/7(6�'(�7(50,1$&,Ï1&+,/&20$5������32/,3/$67,�������&+,/&2552),1�����5(&20(1'$&,21(6�'(�$3/,&$&,Ï1x 'XUDQWH� OD� DSOLFDFLyQ�� OD� WHPSHUDWXUD� GHO� VXVWUDWR�GHEHUi�VHU�VXSHULRU�D���&�H�LQIHULRU�D�����&���x +XPHGDG�UHODWLYD�DPELHQWH��GHEH�VHU�LQIHULRU�D�����x +RPRJHQHL]DU�DGHFXDGDPHQWH�HO�SURGXFWR�DQWHV�GH�XVDU�x 3LQWDU��SULPHUR�ORV�ERUGHV�\�FRUGRQHV�GH�VROGDGXUD��D�PRGR�GH�UHIXHU]R�x (Q�HO�FDVR�GH�DSOLFDU�GRV�R�PiV�FDSDV�GH�SURGXFWR���FRQVLGHUDU�OD�DSOLFDFLyQ�GH�pVWDV�HQ�FRORUHV�GLIHUHQWHV��SDUD�HIHFWRV�GH�FRQWURO�x 3DUD�OLPSLH]D�GH�HTXLSRV�XVDU�'LOX\HQWH�������5(&20(1'$&,21(6�*(1(5$/(6x 1R�VH�UHFRPLHQGD�SDUD�FRQGLFLRQHV�GH�LQPHUVLyQ�SHUPDQHQWH�x 1R� XVDU� GLUHFWDPHQWH� VREUH� DFHUR� JDOYDQL]DGR�QXHYR�� KRUPLJRQHV�� DQWLFRUURVLYRV� ULFRV� HQ� ]LQF��DVIDOWRV�R�VXSHUILFLHV�FRQ�UHVLGXRV�DVIiOWLFRV�x (YLWDU�DSOLFDU�HQ�VHFWRUHV�HQFHUUDGRV��FRQ�HVFDVD�OX]�VRODU��\ YHQWLODFLyQ�LQVXILFLHQWH�\D�TXH�UHWDUGD�HO�VHFDGR�x 1R� DSOLFDU� HQ� VHFWRUHV� H[SXHVWRV� D� DPELHQWHV�DOFDOLQRV�x 1R� DSOLFDU� HQ� HVSHVRUHV� VXSHULRUHV� D� �� PLOV��GHELGR�D�TXH�HO�VHFDGR�VH�SURORQJD�HQ�GHPDVtD�x 1R� UHFRPHQGDEOH� HQ� FRQWDFWR� FRQ� DFHLWHV�YHJHWDOHV�R�DQLPDOHV�x (O� WUDEDMR� GH� SUHSDUDFLyQ� GH� VXSHUILFLHV� \�DSOLFDFLyQ�GHEH�VHU�KHFKR�VyOR�SRU�SURIHVLRQDOHV�FDSDFLWDGRV�35(&$8&,21(6x (O�SURGXFWR�HQ�HVWDGR� OtTXLGR�FRQWLHQH�VROYHQWHV�LQIODPDEOHV��0DQWHQHU�DOHMDGR�GH�FKLVSDV��IXHJR�R�IXHQWHV� GH� FDORU�� (Q� UHFLQWRV� FHUUDGRV� HPSOHDU�PiVFDUDV�� ILOWURV� \� YHQWLODFLyQ� DGHFXDGD�� 'RQGH�H[LVWDQ�ULHVJRV�GH�H[SORVLyQ�XWLOL]DU�KHUUDPLHQWDV�QR�IHUURVDV�