A fluid @C01172@ system in which liquid droplets and/or liquid crystals are dispersed in a liquid. The droplets often exceed the usual limits for @C01171@ in size. An emulsion is denoted by the symbol O/W if the continuous phase is an aqueous solution and by W/O if the continuous phase is an organic liquid (an 'oil'). More complicated emulsions such as O/W/O (i.e. oil droplets contained within aqueous droplets dispersed in a continuous oil phase) are also possible. Photographic emulsions, although @C01172@ systems, are not emulsions in the sense of this nomenclature.