Nanotechnology is a rapidly evolving field, as evidenced by the large number of publications on the synthesis, characterization, and biological/environmental effects of new nano-sized materials. The unique, size-dependent properties of nanomaterials have been exploited in a diverse range of applications and in many examples of nano-enabled consumer products. In this account we focus on Engineered Nanomaterials (ENM), a class of deliberately designed and constructed nano-sized materials. Due to the large volume of publications, we separated the preparation and characterisation of ENM from applications and toxicity into two interconnected documents. Part 1 summarizes nanomaterial terminology and provides an overview of the best practices for their preparation, surface functionalization, and analytical characterization. Part 2 (this issue, Pure Appl. Chem. 2018; 90(8): 1325–1356) focuses on ENM that are used in products that are expected to come in close contact with consumers. It reviews nanomaterials used in therapeutics, diagnostics, and consumer goods and summarizes current nanotoxicology challenges and the current state of nanomaterial regulation, providing insight on the growing public debate on whether the environmental and social costs of nanotechnology outweigh its potential benefits.