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For those scanning the horizon in search of emerging legal trends ' particularly in regard to product liability law, a relatively solid bet is nanotechnology. Like 'genetically modified,' 'nanotechnology' is certain to become a voguish word not only for various public interest groups, but also for the plaintiff's bar as well.
Nanotechnology is officially defined by the federal government's National Nanotechnology Initiative as the science of engineering and manipulating matter at the level of approximately 1 to 100 nanometers, with a nanometer equaling one-billionth of a meter. National Science and Technology Council, Environmental, Health, and Safety Research Needs for Engineered Nanoscale Materials at iii (Sept. 2006). More generally, nanotechnology refers to the creation and use of structures, devices, and systems at the molecular and atomic level ' with novel properties and functions owing to their incredibly small size. Like prior enabling technologies ' the steam engine, the telephone, the computer chip, and plastics all come to mind ' nanotechnology is expected to transform human experience, cutting deeply across all sectors of the global economy, including, inter alia, pharmaceutical, medical device, transportation, communications, energy, and food products. See generally, Nanotechnology: The Plastics of the 21st Century? (Guy Carpenter & Co., Inc. 2006).
Nanotechnology represents a vast frontier for science, business, and law. Already governments and corporations are sinking an estimated $10 billion annually into nanotechnology R&D, and economic forecasters are predicting that nanotechnology will account for some 15% of all global manufacturing output by 2014 ' commerce valued at some $2.6 trillion. See, e.g., Evan Michelson, Nanotechnology and the World: Point of View, Project on Emerging Technologies: Woodrow Wilson International Center for Scholars (May 2007).
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