ZE2 is the image of an eye on legs to to the left; the right two lines are a sword. it means
standard norm regulation rule. It is an associative compound character: two literal objects are associated with each other to present a concept. 见 Jian on the left means vision, Dao 刀 on the right means sword so as far as I see there is no phonetic component here. The dao character here appears in its abbreviated compressed form as it is a radical.
TSE This STANDARD’s Explanation (in Wade Gillis pinyin Z was Ts)
ZE Zero Exceptions STANDARD
It’s the idea of a rule to be sought, i.e. a norm, a goal, a standard; law as “ought” rather than “is”; an ex ante perspective.