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Nanotechnology Patents: Will Small-Scale Science Pose Big Challenges for Applicants and the Patent Office?

By Iona Niven Kaiser
July 06, 2004

The term “nanotechnology” generally refers to the fabrication and manipulation of materials and devices on the scale of about 1-100 nanometers, and has become one of the key technology buzzwords for 2004. The passage of the 21st Century Nanotechnology Research and Development Act, Pub. L. No. 108-153, which authorized $3.7 billion in federal funding from 2005 through 2008 for the support of nanotechnology research and development, has fueled the fervor over nanotechnology. This substantial funding came as the scientific community and industries as diverse as cosmetics, pharmaceuticals, and petrochemicals were increasingly discovering that, when reduced to nanoscale size, ordinary bits of matter often manifest radically different physical properties. See Joseph Brean, The Next Big (Little) Thing, National Post (Feb. 6, 2004).

The excitement has spread from academia and R&D labs to Wall Street, where investors are jumping at the chance to get in on the action from the outset. In fact, investors have proven so fascinated with nanotechnology that in December 2003 a company called Nanometrics saw its stock price increase by 10% in one day of heavy trading, even though Nanometrics announced no news that day and, as it turns out, does not practice nanotechnology in any commonplace sense of the term. Rather, Nanometrics makes tools that measure thin films used in semiconductors, flat-panel displays, and disk drives. So why the jump in stock price? Simply, it appears, because Nanometrics happens to trade under the ticket symbol NANO. Rachel Beck, Investors Pour Big Money Into Latest Rage, Nanotech, The Grand Rapids Press, 2004 WL 58533128 (Jan. 11, 2004).

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