Taiwan Semiconductor Manufacturing Company now accounts for 42% of Taiwan’s benchmark stock index. That share has helped push the island’s market to the world’s fifth-largest. The company’s stock rose nearly 50% this year, driven by demand for artificial intelligence infrastructure.
From junior manager to general counsel
Sylvia Fang joined TSMC in 1995 as a junior manager. At the time, the company generated less than $1 billion in annual revenue. It now brings in more than $122 billion and serves over 500 customers worldwide.
Fang, now TSMC’s senior vice president and general counsel, says the company’s success isn’t measured by market capitalization alone. It comes from a set of core values—integrity, commitment, innovation, and customer trust—that have remained unchanged since its founding in 1987.
“We don’t take commitments lightly,” Fang says. “Once we commit, we devote ourselves completely to meeting that commitment.”
These principles guide her as she handles the legal, commercial, and geopolitical challenges of leading one of the world’s most influential technology firms. The role has changed dramatically since she started.
The legal department’s expanding role
When Fang joined, the legal team focused on commercial contracts, general corporate issues, and occasional intellectual property disputes. The company was still refining its pure-play foundry model, manufacturing chips exclusively for customers rather than designing its own.
As TSMC grew globally, its legal needs expanded. Corporate governance became more demanding, IP disputes increased, and new areas of expertise emerged. The company’s 1997 listing on the New York Stock Exchange introduced stricter regulatory scrutiny and reporting standards.
Geopolitical tensions added complexity. Semiconductors became a national security priority for global superpowers, putting the world’s largest semiconductor foundry under intense scrutiny.
“We used to be pretty low-key, but we were forced into the spotlight,” Fang says. “We need to deal with the expectations and requests of governments in various regions and manage the ever-increasing
“Integrity is one of our core values,” she says. “We aim to comply with all relevant laws and regulations.”
Antitrust scrutiny has become one of the biggest legal risks. As the company grows, pressure increases to ensure its dominance doesn’t violate competition laws.
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The legal department’s growth reflects TSMC’s rise. The company’s founder, Morris Chang, identified three pillars of success: technology leadership, manufacturing excellence, and customer trust. For Fang, those principles explain why TSMC has thrived.
“These are the key elements of our success as a semiconductor foundry,” she says. The legal team’s role is to protect that foundation as the industry changes.
Fang remains optimistic about the future. The AI boom is expected to drive growth, with a multitrillion-dollar infrastructure build-out creating new opportunities. She doesn’t expect the company to abandon its core values.
“In an industry defined by constant change, consistency and discipline will continue to set TSMC apart.”
After 31 years at the company, Fang’s view of its success hasn’t changed. Legal challenges will keep evolving—new regulations, geopolitical shifts, and emerging technologies will demand new strategies. But the foundation, she believes, will remain.
