AbstractThe field of nanotechnology has been widely recognized as comparable to biotechnology and digital information revolutions. As a general-purpose technology, nanotechnology is expected to have widespread applications across many critical industrial sectors. The growing market and competition require careful attention to intellectual property (IP) rights and strategies. The American patent system is currently going through the biggest reform since the passage of Patent Act of 1952, and many changes apply directly to the field of nanotechnology. This review discusses basic IP definitions, recent IP developments, and advanced protection strategies to better understand the status quo of IP specifically in nanotechnology. The potential impact from the patent system reform is also discussed.