{"id":3,"date":"2026-10-17T01:09:12","date_gmt":"2026-10-16T17:09:12","guid":{"rendered":"http:\/\/a16z.dxw123.top\/?page_id=3"},"modified":"2026-10-19T14:46:30","modified_gmt":"2026-10-19T06:46:30","slug":"privacy-policy","status":"publish","type":"page","link":"https:\/\/www.1ares.com\/zh\/privacy-policy\/","title":{"rendered":"a16z Capital Management Inc \u96b1\u79c1\u6b0a\u653f\u7b56"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"3\" class=\"elementor elementor-3\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-27c3a49 e-flex e-con-boxed e-con e-parent\" data-id=\"27c3a49\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;background_motion_fx_motion_fx_scrolling&quot;:&quot;yes&quot;,&quot;background_motion_fx_translateY_effect&quot;:&quot;yes&quot;,&quot;background_motion_fx_translateY_direction&quot;:&quot;negative&quot;,&quot;background_motion_fx_translateY_speed&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:7,&quot;sizes&quot;:[]},&quot;background_motion_fx_devices&quot;:[&quot;desktop&quot;,&quot;tablet&quot;],&quot;background_motion_fx_range&quot;:&quot;viewport&quot;,&quot;background_motion_fx_translateY_affectedRange&quot;:{&quot;unit&quot;:&quot;%&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:{&quot;start&quot;:0,&quot;end&quot;:100}}}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-37b51f56 e-con-full e-flex e-con e-child\" data-id=\"37b51f56\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-179c1dc4 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"179c1dc4\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;,&quot;_animation_delay&quot;:200}\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">a16z Capital Management Inc Privacy Policy<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-34a93a82 elementor-icon-list--layout-inline elementor-align-center elementor-list-item-link-full_width elementor-invisible elementor-widget elementor-widget-icon-list\" data-id=\"34a93a82\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items elementor-inline-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Homepage<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chevron-right\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">a16z Capital Management Inc Privacy Policy<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-708e866 e-flex e-con-boxed e-con e-parent\" data-id=\"708e866\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-aed36a3 elementor-widget elementor-widget-text-editor\" data-id=\"aed36a3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2><strong>1. Overview and Scope<\/strong><\/h2><p><strong>1.1 Purpose and Parties<\/strong><\/p><p>These Terms of Service define the rights, obligations, and rules governing the use of services between a16z Capital Management Inc (the \u201cCompany,\u201d \u201cwe,\u201d or \u201cus\u201d) and users of its services (\u201cusers\u201d or \u201cyou\u201d).<\/p><p>These Terms apply to features and activities on the Company\u2019s website, the A16Z QTS System App, and related services that expressly reference these Terms. If you apply for or use services on behalf of an organization, you must have the necessary authorization and ensure that your activities comply with that organization\u2019s internal requirements.<\/p><p>Descriptions of businesses and features in these Terms do not mean that all services are available to every user or in every jurisdiction. The services available to you are limited to those permitted by applicable law, actually offered by the Company, and covered by a valid agreement between the parties.<\/p><p><strong>1.2 Reviewing and Accepting These Terms<\/strong><\/p><p>Before registering an account, requesting access, or subscribing to services, you must read and understand these Terms, particularly the provisions concerning service scope, fees, trading arrangements, liability, and dispute resolution.<\/p><p>When your acceptance of these Terms is required, the Company will obtain your consent through an explicit confirmation process. Merely browsing publicly accessible pages does not constitute your agreement to paid services, discretionary asset management, or authorization for the Company to trade on your behalf.<\/p><p>If you do not agree to the relevant terms, you must refrain from applying for or using services that require acceptance of those terms. Existing service relationships and outstanding matters will be handled in accordance with valid agreements and applicable law.<\/p><p><strong>1.3 Relationship to the Privacy Policy and Service-Specific Agreements<\/strong><\/p><p>The collection, use, retention, and protection of personal information are governed by the applicable Privacy Policy. Accepting these Terms does not constitute consent to information processing unrelated to the services. Where separate consent is required by law, the Company must obtain it separately.<\/p><p>The parties may enter into separate agreements for investment management, trading accounts, data subscriptions, or other specific services. If a service-specific agreement conflicts with these Terms, its express provisions will govern that service to the extent permitted by law.<\/p><p>No document may exclude mandatory obligations under applicable law or restrict rights that users cannot legally waive.<\/p><h2><strong>2. User Eligibility and Access Requirements<\/strong><\/h2><p><strong>2.1 Eligible Clients and Qualification Requirements<\/strong><\/p><p>The Company\u2019s professional services are intended for institutional clients, quantitative private funds, and high-net-worth professional investors who meet the applicable requirements. Eligibility criteria may vary by service and will be determined based on the nature of the service, requirements applicable in the user\u2019s jurisdiction, and the relevant service-specific agreement.<\/p><p>The A16Z QTS System App is not available to individual retail investors. Individuals applying for services intended for professional investors must meet the eligibility requirements established by applicable law and the specific service. Asset size or self-certification alone does not automatically establish eligibility.<\/p><p>Institutional users must be legally established and validly existing, and applicants must have authority to act on behalf of the institution.<\/p><p><strong>2.2 Review of Identification and Authorization Documents<\/strong><\/p><p>When applying for services, users must provide truthful, accurate, complete, and valid identification, organizational information, and authorization documents required for the requested service. To the extent necessary for legal compliance or application review, the Company may request additional evidence concerning beneficial ownership, source of funds, or professional investor status.<\/p><p>The Company must limit its requests to information reasonably necessary for the relevant purpose and process personal information in accordance with the Privacy Policy. Submitting an application does not mean that it has been approved or obligate the Company to provide services.<\/p><p>If documents are incomplete, expired, or reasonably subject to question, the Company may request clarification and defer activation of the relevant features until the review is complete.<\/p><p><strong>2.3 Headquarters Approval and Access Confirmation<\/strong><\/p><p>Applications to use the A16Z QTS System App must be reviewed by the responsible official at the Company\u2019s headquarters. Applicable eligibility and access verification procedures must be completed before the relevant features are activated.<\/p><p>Approval applies only to the accounts, individuals, and services expressly authorized. Users must not interpret access to one service as automatic authorization to use another or allow unapproved individuals to access services by sharing accounts or lending credentials.<\/p><p>Internal approval does not replace legally required eligibility determinations, business licenses, or other necessary procedures.<\/p><p><strong>2.4 Changes in Eligibility and Information Updates<\/strong><\/p><p>Users must promptly update their information when material changes occur, including changes to an institution\u2019s legal status, authorized representatives, beneficial owners, or service eligibility.<\/p><p>If a change affects eligibility, the Company may conduct a new review and adjust access or suspend relevant features as appropriate. Where permitted by law and consistent with necessary security measures, the Company must explain the reasons for its action and the steps required to restore access.<\/p><h2><strong>3. Services and Scope<\/strong><\/h2><p><strong>3.1 Equity Research, Fund Management, and ETF Asset Allocation<\/strong><\/p><p>Relevant services may include business analysis, industry research, organization of equity market information, fund portfolio assessments, and comparisons of ETF products. The specific content, delivery format, update frequency, and service term must be stated in the applicable service description or agreement.<\/p><p>Regulated activities, including fund management, investment advisory services, and asset allocation advice, may be conducted only after the necessary registration, licensing, or applicable exemption requirements have been satisfied and must be performed in accordance with the relevant agreement.<\/p><p>Unless the parties have provided otherwise through clear and valid authorization, registering an account or reviewing research materials does not give the Company authority to manage or dispose of a user\u2019s assets.<\/p><p><strong>3.2 IPO Research and Related Information Services<\/strong><\/p><p>IPO services primarily involve research into an issuer\u2019s business, financial condition, governance, offering terms, and public disclosures, together with information organization or analytical support as agreed.<\/p><p>Research materials do not guarantee the progress of a listing, subscription eligibility, allocation size, offering price, or post-listing performance. Any subscription, allocation, or trading arrangement must be based on the applicable offering documents, eligibility requirements, and separate agreements.<\/p><p>Providing IPO research materials alone does not constitute a commitment by the Company to provide underwriting, allocation, or subscription agency services.<\/p><p><strong>3.3 AI-Based Quantitative Analysis and Technical Support<\/strong><\/p><p>Within the agreed scope, the Company may provide data processing, information comparison, model analysis, and related technical tools to support users\u2019 research and professional activities.<\/p><p>The applicable data, parameter requirements, output formats, and limitations of each tool are governed by its product documentation. Technical outputs may be affected by data quality, model assumptions, and market changes and must be reviewed in light of their intended use.<\/p><p>Unless otherwise provided by a lawful, valid agreement and express authorization, using analytical tools does not authorize the Company or the software to submit trading orders automatically.<\/p><p><strong>3.4 Service Scope and Service-Specific Arrangements<\/strong><\/p><p>The actual services must identify the provider, each party\u2019s responsibilities, deliverables, and applicable conditions. Where trade execution, custody of funds, settlement, or other third-party functions are involved, the relevant documents must explain each participant\u2019s responsibilities.<\/p><p>The Company may determine service availability based on legal requirements, product conditions, and its operational capabilities and will not provide restricted services to users who do not meet the applicable eligibility requirements.<\/p><p>Material conflicts of interest that may affect users must be disclosed and addressed in accordance with the Company\u2019s applicable obligations, and informed consent must be obtained where required by law.<\/p><h2><strong>4. Account Registration and Management<\/strong><\/h2><p><strong>4.1 Account Applications and Accuracy of Information<\/strong><\/p><p>Users must register through an application process recognized by the Company and ensure that the information submitted accurately reflects their circumstances. Users must not impersonate others, falsify organizational documents, or conceal material facts relevant to the review.<\/p><p>Account activation is subject to approval and completion of the required procedures. Users must not bypass account restrictions through duplicate applications, fictitious identities, or other means.<\/p><p><strong>4.2 Authorized Personnel and Account Permissions<\/strong><\/p><p>Institutional users must designate account administrators and other authorized personnel and appropriately allocate viewing, operating, and approval permissions. Authorization must correspond to each person\u2019s responsibilities and actual business needs.<\/p><p>When personnel leave, responsibilities change, or authorization is revoked, institutional users must promptly request the relevant permission changes. Upon receiving a valid request, the Company must process it through reasonable procedures and, where necessary, verify the applicant\u2019s identity and authority.<\/p><p>Responsibility for account activity must be determined based on actual authorization, activity records, each party\u2019s fault, and applicable law. Login records alone must not be used to assign all responsibility to the user.<\/p><p><strong>4.3 Protection of Credentials and Security Obligations<\/strong><\/p><p>Users must safeguard passwords, verification codes, and other authentication information and must not disclose them to unauthorized persons. Users must adopt device and network security measures appropriate to the account\u2019s purpose.<\/p><p>The Company must implement reasonable account protection measures consistent with applicable law and the nature of the services. Both parties must avoid transmitting sensitive credentials through insecure methods and promptly address identified security vulnerabilities.<\/p><p><strong>4.4 Account Irregularities and Closure<\/strong><\/p><p>If users discover suspected unauthorized access, unusual activity, or compromised credentials, they must promptly submit a report through available account security or service procedures and take reasonable measures, such as changing passwords.<\/p><p>The Company may take necessary measures, including identity verification and temporary activity restrictions, based on the circumstances. Such measures must be proportionate to the issue and reviewed promptly when circumstances permit.<\/p><p>Before requesting account closure, users must address pending transactions, fees, and other obligations. Closure does not affect records that must be retained by law or extinguish rights and liabilities that have already arisen.<\/p><h2><strong>5. Rules for Using the A16Z QTS System App<\/strong><\/h2><p><strong>5.1 App Features and Professional Client Eligibility<\/strong><\/p><p>The A16Z QTS System App provides trading, account management, and quantitative features within the approved service scope. Feature availability depends on user eligibility, account type, the relevant market, and activated permissions.<\/p><p>Users must use the App only for approved purposes and must not rent, resell, or provide access to unapproved third parties. Additional personnel, accounts, or features must be approved through the applicable procedures.<\/p><p><strong>5.2 Submitting and Confirming Trading Orders<\/strong><\/p><p>Where trading features have been activated, users must verify the instrument, buy or sell direction, quantity, price, and other required information before submitting an order and confirm that the activity falls within their authorization.<\/p><p>Submission or receipt of an order does not mean that it has been executed. Order status and execution must be assessed using confirmations from the executing institution and valid transaction records.<\/p><p>Whether an order can be modified or canceled depends on its processing status, market rules, and execution arrangements. The Company does not guarantee that every order will be completed at the expected price, quantity, or time.<\/p><p><strong>5.3 Account Information and Activity Records<\/strong><\/p><p>Account balances, holdings, transaction status, and other information displayed in the App may be affected by data synchronization, market update schedules, or third-party processing.<\/p><p>Users must review account information regularly. If discrepancies are identified, users may request a review through the applicable inquiry or dispute procedure. The Company must assess the relevant records and must not treat information displayed on a single screen as conclusive and incapable of correction.<\/p><p>The retention and retrieval of activity records must comply with applicable law, the Privacy Policy, and relevant agreements.<\/p><p><strong>5.4 Software Updates and Maintenance<\/strong><\/p><p>The Company may update and maintain the App to correct issues, improve compatibility, or meet applicable requirements. Where reasonably practicable, the Company must provide advance notice of material feature changes or maintenance expected to affect use.<\/p><p>Users must use supported software versions and device environments in accordance with product requirements. The Company may require installation of necessary security updates before allowing continued use of relevant features.<\/p><p>Advance notice may not be possible for emergency maintenance. The Company must explain the impact where practicable and take steps to restore service.<\/p><p><strong>5.5 Use Restrictions and Operational Responsibilities<\/strong><\/p><p>Users must not bypass access controls, alter activity records, introduce malicious software, or disrupt the normal operation of the App or related services through abnormal requests.<\/p><p>Without permission, users must not use interfaces or automated programs to obtain data or perform activities beyond their authorized scope, except where expressly permitted by law.<\/p><p>Users must complete the required confirmations for material actions in accordance with applicable procedures. The Company remains responsible for its legal and contractual obligations concerning order processing, access controls, and technical services.<\/p><h2><strong>6. User Obligations and Standards of Conduct<\/strong><\/h2><p><strong>6.1 Compliance with Applicable Laws and Business Rules<\/strong><\/p><p>Users must comply with securities, anti-money laundering, sanctions, data protection, and other requirements applicable to their activities and must not use the services to assist others in unlawful conduct.<\/p><p>Where identity verification, transaction review, or other necessary checks are legally required, users must reasonably cooperate by providing relevant information. The Company must comply with information protection requirements and limits on its authority when conducting such reviews.<\/p><p><strong>6.2 Use Within Authorized Limits<\/strong><\/p><p>Users must use services within the limits of their eligibility, organizational authorization, and account permissions and must not submit instructions or make commitments on behalf of unauthorized parties.<\/p><p>Before uploading, submitting, or sharing materials, users must confirm that they have the necessary rights and avoid disclosing personal information, trade secrets, or other protected content they are not authorized to provide.<\/p><p>Research materials and technical tools must be used for their agreed purposes and must not be resold, sublicensed, or used to provide restricted services to third parties without permission.<\/p><p><strong>6.3 Prohibition of Fraud, Unlawful Trading, and Unauthorized Access<\/strong><\/p><p>Users must not obtain services through false statements, impersonation, forged documents, or other deceptive means. The platform must not be used for market manipulation, insider trading, or other unlawful trading activities.<\/p><p>Unauthorized access to other users\u2019 accounts, acquisition of restricted data, and interference with platform security are prohibited. If reasonable grounds for concern arise, the Company may investigate and take necessary measures in accordance with law, but the scope of its actions must be based on actual evidence and applicable rules.<\/p><h2><strong>7. Service Fees and Third-Party Arrangements<\/strong><\/h2><p><strong>7.1 Fee Disclosure and Payment Terms<\/strong><\/p><p>For paid services, the Company must disclose the fee items, calculation methods, payment schedules, and other material terms before users subscribe to or accept the services and obtain any required confirmation.<\/p><p>Specific fees are governed by the fee disclosures or service-specific agreements confirmed by both parties. These Terms do not establish any fixed fee percentage, minimum payment amount, or automatic renewal arrangement.<\/p><p>If a service renews automatically, the renewal period, amount or calculation method, and cancellation procedure must be separately and clearly disclosed, and authorization must be obtained as required by law.<\/p><p><strong>7.2 Fee Changes and Refunds<\/strong><\/p><p>When changing fees, the Company must follow the notice procedures required by applicable law and existing agreements and explain the changes, their effective date, and the choices available to users. New fees must not apply retroactively to completed services for which pricing has already been established.<\/p><p>Refund eligibility must be determined based on the nature of the service, actual performance, and legal requirements. Refunds or other liabilities arising from the Company\u2019s failure to provide services as agreed must not be categorically excluded through a blanket provision.<\/p><p>Users may request a review of disputed fees. Disputed and undisputed amounts must be handled separately in accordance with applicable law and the relevant agreement.<\/p><p><strong>7.3 Third-Party Services and Allocation of Responsibilities<\/strong><\/p><p>Certain features may rely on third-party data, trade execution, custody, settlement, or technical services. The third party\u2019s identity, services, and applicable terms must be identified before use.<\/p><p>Third parties are responsible for the services they undertake. The Company remains responsible for its own legal or contractual duties concerning provider selection, integration, information transmission, oversight, or other relevant functions.<\/p><p>A third party\u2019s failure or breach does not automatically relieve the Company of its own responsibilities.<\/p><p><strong>7.4 Taxes, Charges, and Settlement<\/strong><\/p><p>Taxes and external charges associated with the services must be borne in accordance with applicable law and the parties\u2019 agreement. The Company must fulfill any legally required withholding, remittance, or reporting obligations.<\/p><p>Users must review billing and settlement records and promptly raise any discrepancies. Amounts payable, refunds due, and other outstanding matters following termination must be calculated based on the services actually performed.<\/p><h2><strong>8. Research Information and Risk Disclosures<\/strong><\/h2><p><strong>8.1 Purpose and Limitations of Research Materials<\/strong><\/p><p>General research materials provide market, industry, and company information and may not consider a particular user\u2019s financial circumstances, investment objectives, or restrictions. Whether personalized advice is included depends on the actual service relationship and the relevant service-specific agreement.<\/p><p>The Company must exercise reasonable care regarding the sources and accuracy of materials, but information may change due to updated disclosures, statistical methodologies, or market developments. Assessments must be understood in light of when they were made and the analytical conditions on which they were based.<\/p><p>If material errors that may affect use are identified, the Company must take appropriate steps to correct or explain them.<\/p><p><strong>8.2 Conditions for Using AI Analysis and Quantitative Tools<\/strong><\/p><p>AI analysis and quantitative tools depend on data, parameters, and model assumptions. Their outputs may contain inaccuracies or omissions or may be unsuitable for particular conditions.<\/p><p>Users must review results against source materials, actual business needs, and appropriate professional judgment. Historical testing, model examples, and analytical results do not represent future actual trading performance.<\/p><p>The Company must not rely solely on its use of AI or automated tools to disclaim any duty of care imposed by law or contract in providing services.<\/p><p><strong>8.3 Investment Risks and Independent Judgment<\/strong><\/p><p>Activities involving stocks, funds, ETFs, and IPOs may be affected by price fluctuations, changes in liquidity, issuer business conditions, exchange rates, policy developments, technical failures, and other factors and may result in a loss of principal.<\/p><p>Users must understand the relevant products and trading terms and make decisions based on their objectives and ability to bear losses. Professional investor status does not eliminate the possibility of loss.<\/p><p>Users\u2019 independent decisions and the Company\u2019s fulfillment of applicable advisory, management, or other service obligations must be assessed separately. Independent user judgment must not be used to exclude responsibilities that the Company is required to assume.<\/p><p><strong>8.4 No Promise of Returns or Guarantee of Results<\/strong><\/p><p>Except for specific contractual obligations that are legally valid, the Company does not promise investment profits, fixed returns, protection against losses, or any particular market performance.<\/p><p>Past performance, research examples, projections, and model results do not guarantee future outcomes. Statements by employees or third parties must not replace formal agreements or be used to make promises of returns that violate applicable law.<\/p><h2><strong>9. Intellectual Property and Liability<\/strong><\/h2><p><strong>9.1 Rights in Software, Research Content, and Branding<\/strong><\/p><p>Rights in the software, research materials, website content, and brand identifiers provided by the Company belong to the Company or the lawful rights holders. Use of the services does not transfer ownership or grant any rights not expressly provided.<\/p><p>Third-party content remains subject to its existing rights and license terms. The Company may not grant rights beyond those it lawfully holds.<\/p><p><strong>9.2 Permitted Use and Distribution Restrictions<\/strong><\/p><p>Subject to these Terms and applicable service-specific agreements, users may use the relevant software and materials within the authorized scope. Except as permitted by law or authorized by the rights holder, protected content must not be copied, adapted, publicly distributed, resold, or sublicensed.<\/p><p>Users retain the rights they lawfully hold in materials they submit. The Company may process those materials only to the extent necessary to provide services, maintain security, and comply with law. Uses beyond those purposes require separate, appropriate authorization.<\/p><p><strong>9.3 Confidentiality and Legally Required Disclosures<\/strong><\/p><p>Both parties must reasonably protect nonpublic business materials, account information, and other confidential information obtained during the service relationship and limit access to personnel with a legitimate business need.<\/p><p>Information that is lawfully public, lawfully obtained from a third party authorized to disclose it, or independently developed does not automatically become confidential under these Terms.<\/p><p>Where disclosure to regulators, courts, or other competent authorities is required by law, disclosure must be limited to the applicable requirements, and the relevant party must be notified where legally permitted and appropriate.<\/p><p><strong>9.4 Responsibilities and Limitations of Liability<\/strong><\/p><p>Each party is responsible for its own violations of applicable law or valid agreements. Losses and the scope of liability must be determined by considering the conduct, causation, actual loss, and relevant law.<\/p><p>These Terms do not exclude or limit liability that cannot lawfully be excluded or limited and do not require users to waive nonwaivable statutory rights. Any fiduciary duties imposed on the Company by law in the relevant service relationship are not subject to a blanket waiver under these Terms.<\/p><p>Any service-specific limitation of liability must comply with applicable law and be stated clearly, accurately, and in a manner that does not mislead users.<\/p><p><strong>9.5 Force Majeure and Service Interruptions<\/strong><\/p><p>Natural disasters, major public emergencies, communications outages, and other external events may affect services. Whether an event provides a lawful basis for relief from liability depends on its specific cause, foreseeability, and applicable law.<\/p><p>The affected party must notify the other party where reasonably practicable and take steps to mitigate losses. The Company must pursue service restoration and follow-up measures appropriate to the nature of the event.<\/p><p>Not every technical failure or third-party interruption constitutes force majeure. Any relief from liability must remain within the limits permitted by law.<\/p><h2><strong>10. Termination and Other Provisions<\/strong><\/h2><p><strong>10.1 Service Changes, Suspension, and Termination<\/strong><\/p><p>The Company may modify, suspend, or terminate relevant services due to legal requirements, changes in user eligibility, material breaches, security incidents, or other reasons agreed upon by the parties.<\/p><p>Where reasonably practicable and permitted by law, the Company must explain the reasons, scope of impact, and effective arrangements and, where appropriate, provide an opportunity to submit additional information, correct an issue, or request a review.<\/p><p>Users may also request termination in accordance with the applicable agreement. Emergency measures must be proportionate to actual needs. Suspension must not be used to improperly restrict users\u2019 lawful rights to dispose of assets or seek remedies.<\/p><p><strong>10.2 Outstanding Matters Following Termination<\/strong><\/p><p>Termination does not affect valid transactions, payment obligations, refund rights, or other outstanding matters arising before termination.<\/p><p>Assets or funds must be handled by the party actually responsible for custody, execution, or settlement in accordance with valid instructions, applicable rules, and agreements. Termination of App access does not alter ownership of those assets.<\/p><p>The Company must handle account information in accordance with applicable law and the Privacy Policy. Confidentiality, intellectual property, dispute resolution, and other provisions that by their nature should survive termination will remain effective to the extent necessary.<\/p><p><strong>10.3 Amendments and Notices<\/strong><\/p><p>The Company may amend these Terms in response to legal changes, service adjustments, or operational needs and notify users through appropriate methods, including website announcements, App prompts, or account notifications.<\/p><p>For changes materially affecting fees, liability, or other rights and obligations, users must be given a reasonable review period, and renewed consent must be obtained where required by law or an existing agreement. A user\u2019s failure to respond must not, by itself, be treated as consent to all material changes.<\/p><p>As a general rule, amended Terms apply to services provided after their effective date and do not retroactively alter established rights and obligations. Users who do not agree to the amendments may discontinue the relevant services in accordance with the applicable agreement and resolve outstanding matters.<\/p><p><strong>10.4 Governing Law and Dispute Resolution<\/strong><\/p><p>The law applicable to these Terms and the related services will be determined under the legal rules binding on the service relationship and any valid agreement between the parties. Any governing law or jurisdiction provision in a service-specific agreement must not exclude mandatory legal protections.<\/p><p>If a dispute arises, the parties may first attempt to resolve it through consultation. If no resolution is reached, either party may bring a claim before a court with lawful jurisdiction or proceed under a valid arbitration agreement separately entered into by the parties. These Terms do not independently impose mandatory arbitration.<\/p><p>If a provision is held invalid or unenforceable, the remaining provisions that can apply independently will remain effective. A party\u2019s delay in exercising a right does not, by itself, constitute a waiver of that right.<\/p><p><!-- \/wp:paragraph --><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Homepage 1. Overview and Scope 1.1 Purpose and Parties These Terms of Service define the rights, obligations, and rules governing the use of services between a16z Capital Management Inc (the \u201cCompany,\u201d \u201cwe,\u201d or \u201cus\u201d) and users of its services (\u201cusers\u201d or \u201cyou\u201d). These Terms apply to features and activities on the Company\u2019s website, the A16Z [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"open","template":"elementor_header_footer","meta":{"footnotes":""},"class_list":["post-3","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.1ares.com\/zh\/wp-json\/wp\/v2\/pages\/3","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.1ares.com\/zh\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.1ares.com\/zh\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.1ares.com\/zh\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.1ares.com\/zh\/wp-json\/wp\/v2\/comments?post=3"}],"version-history":[{"count":16,"href":"https:\/\/www.1ares.com\/zh\/wp-json\/wp\/v2\/pages\/3\/revisions"}],"predecessor-version":[{"id":277,"href":"https:\/\/www.1ares.com\/zh\/wp-json\/wp\/v2\/pages\/3\/revisions\/277"}],"wp:attachment":[{"href":"https:\/\/www.1ares.com\/zh\/wp-json\/wp\/v2\/media?parent=3"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}