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7 Duke L. & Tech. Rev. 1 (2008-2009)

handle is hein.journals/dltr7 and id is 1 raw text is: REGULATING NANOTECHNOLOGY: A PRIVATE-PUBLIC INSURANCE SOLUTION MAKSiM RAKHLIN1 ABSTRACT Nanotechnology promises to revolutionize innovation in nearly every industry. However, nanomaterials' novel properties pose potentially significant health and environmental risks. Views in the current debate over nanotechnology regulation range from halting all research and development to allowing virtually unregulated innovation. One viable regulatory solution balancing commercialization and risk is the adoption ofa mandatory private- public insurance program. INTRODUCTION ¶I Spurred by a strong financial commitment from the federal government and robust private investment, nanotechnology innovation is developing at a rapid pace. As investment in nanotechnology commercialization grows, several studies point to potentially serious environmental and health risks introduced by manufactured nanomaterials. The substantial benefits and risks ofnanotechnology have resulted in wide- ranging debate over appropriate regulation. One viable regulatory solution balancing innovation and commercialization benefits with health and environmental concerns is the implementation of a private-public insurance program. ¶2 This iBrief will discuss nanotechnology applications and risks, review various nanotechnology regulations, and suggest a novel approach to mitigating risk while maintaining appropriate incentives for innovation. Specifically, Section I will discuss nanotechnology research and development, focusing on the benefits of nanotechnology innovation and the potential health and environmental risks posed by nanomaterials. Section II will review the current debate surrounding nanotechnology regulation, analyzing existing applicable regulatory bodies and regulations, a newly suggested law, and other proposals. Section III will consider an J.D. candidate at Duke University School of Law, 2009; M.B.A. candidate at The Fuqua School of Business, 2009; B.S., Cornell University, 2004. The author would like to thank Professor Jonathan Wiener of Duke Law, Professor Mark Wiesner of The Pratt School of Engineering, and the staff members of the Duke Law & Technology Review for their guidance.

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