New on the horizon: Nanotechnology

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Courtesy of Bergeson & Campbell, P.C.

Managing any business is tough. Managing a nanotechnology (nanotech) business is tougher than most. This article briefly discusses this new and rapidly expanding field of applied science, outlines key risk management issues that companies engaged in the manufacture of nanoscale materials and nanotechnology-enabled products confront, and reviews existing and proposed governance and risk management mechanisms intended to address potential nanotechnology risks.

Products of Nanotechnology in Commerce

Nanotechnology is defined as the “understanding and control of matter at dimensions of roughly 1 to 100 nanometers, where unique phenomena enable novel applications,” according to the National Nanotechnology Initiative (NNI).1 Nanotechnologies, over time, are expected to generate many new products and applications. Lux Research, Inc., the New York-based nanotechnology research and advocacy firm, predicts that products that incorporate nanotechnology will constitute 15 percent of global manufacturing output by 2014 and will represent $2.6 trillion in value.

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