This talk will cover recent developments in patent law concerning determinations of what may or may not be "obvious" in light of the U.S. Supreme Court's recent decision in KSR v. Teleflex. In addition, this talk will cover how this recent decision (and subsequent decisions by the Court of Appeals for the Federal Circuit) may affect currently pending patent applications and strategies for filing new patent applications, particularly for chemical and nanotechnology technical fields. Tips for prosecuting patent applications before the U.S. Patent & Trademark Office will also be discussed.