Taiwan Semiconductor Manufacturing Company Limited (TSMC) is a Taiwanese multinational semiconductor contract manufacturing and design company. It is the world's largest dedicated independent semiconductor foundry, with its headquarters and main operations located in the Hsinchu Science and Industrial Park in Hsinchu, Taiwan. TSMC was founded in 1987 as a joint venture of Philips Semiconductors, Motorola, and the government of Taiwan. It has been listed on the Taiwan Stock Exchange (TSE) since 1994 and its American depositary shares trade on the New York Stock Exchange (NYSE) under the ticker symbol TSM.