Benzenedicarboxylate complexes, especially phthalate ones, can be significant precursors for the preparation of nano-sized metal and metal oxides. The injection of organic surfactants such as oleic acid (OA) and triphenylphosphine into molecular precursors has yielded samples with size control, narrow size distributions and crystallinity of individual nanocrystals. Fourier transform infrared and X-ray photoelectron spectroscopy revealed that the OA molecules were adsorbed on the ferromagnetic nanoparticles by chemisorption. The temperature-dependent magnetization curve in zero-field-cooled and field-cooled exhibit weak ferromagnetism of the Co₃O₄ nanoparticles. At 300K the remanent magnetization is 0.02emu/g, the coercive field is 441Oe and the magnetization at saturation is 1.05emu/g.