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Nanobiotechnology is still a developing field. The results and promises of this technology are not only of scientific and economic importance, they also raise grave ethical, legal and social questions. In this context, especially the so called "Precautionary Principle" or "Vorsorgeprinzip" is of high relevance. What does it mean to "proceed with caution" in the field of nanobiotechnology? How can the principle be applied and specified? Is it a suitable tool for the protection against potentially dangerous effects on the environment and human health? What is the status of the Precautionary Principle in international agreements and national legislation?