Nanotechnology is widely cited to be one of most exciting and important technologies for the twenty-first century. However, our knowledge of the effects nanomaterials have on human health and the environment is incomplete. The greatest potential for exposure over the next few years will be in the workplace, industry, and academic research institutions. This chapter presents the current scientific findings and understandings of the dangers nanotechnology imposes on the environment, human health, and safety with a special emphasis on current regulatory framework within the European Union (EU). This chapter analyses the overall development of this novel field by the study of two basic indicators, publications and patent applications in regard to environment, health and safety in ten South Eastern European countries. Publication data collected in worldwide databases such as those of the ISI/WOS are used to track the dynamics of science and technology development, whereas patent applications to EPO/WIPO are used to trace industry development of this novel field in South Eastern Europe (SEE). The increasing speed of nanotechnology development and commercialization has apparently run ahead of health, environmental and safety data. It is imperative for the SEE governments to develop a flexible form of the so-called adaptive management that will allow appropriate control and regulation of nanomaterials for the interim period until definitive health and safety data are obtained.
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