This document summarizes a seminar on liposomes presented by Venkatesh Goli. It defines liposomes as spherical vesicles composed of phospholipid bilayers that were first described by Dr. Bangham in 1960. The summary explains that liposomes are composed of phospholipids and cholesterol and can be unilamellar or multilamellar depending on the number of bilayers. Various preparation methods are outlined including mechanical dispersion, solvent dispersion, and detergent removal. The advantages of liposomes include increased drug efficacy, stability, and reduced toxicity while disadvantages include low water solubility and high production costs. Finally, applications of liposomes are described for drug delivery, cosmetics, and cancer therapy.