Competitive Technologies, Inc. Announces Strategic Alliance Agreement With Refac.FAIRFIELD, Conn.--(BUSINESS WIRE)--July 26, 1999-- Competitive Technologies, Inc. (AMEX AMEX See: American Stock Exchange :CTT CTT Correios (Portuguese Postal Service) CTT Certified Technical Trainer CTT Charity Technology Trust CTT Cholesterol Treatment Trialists' (collaboration) CTT Common Task Training ) and Refac (AMEX:REF) Edgewater, NJ, leaders in the field of licensing and commercialization, today announced the signing of a strategic alliance agreement. The agreement encourages combining CTT's strengths of technology sourcing and licensing in the digital, life, and physical sciences areas with Refac's strengths in product design and development, and trademark and brand licensing. The alliance will provide each company the opportunity for an increased array of services for existing and future clients of both companies. CTT and Refac will share revenue from referring third party opportunities to each other in respective areas of expertise under the terms of the agreement. Frank R. McPike, Jr., President of CTT commented: "Today's business Today's Business is a show on CNBC that aired in the early morning, 5 to 7AM ET timeslot, hosted by Liz Claman and Bob Sellers, and it was replaced by Wake Up Call on Feb 4, 2002. environment calls for companies to be creative and virtual, partnering with like-minded companies to expand their reach. I am pleased to be working with Mr. Tuchman and Refac and look forward to a financially rewarding relationship." Robert L. Tuchman, President of Refac commented, "We firmly believe that one key to our success is high quality partnerships and alliances that better enable us to serve our clients. We think this relationship with a noted partner like CTT will open up new opportunities for us and enable us to extract value from our existing licensing deal flow." About Competitive Technologies, Inc. Competitive Technologies is a global leader in identifying, developing and commercializing innovative life sciences, physical sciences and digital technologies. Competitive Technologies' specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. expertise and experience make it a valuable partner for companies of all sizes engaged in technology commercialization. CTT has evaluated more than 25,000 technologies and has been responsible for closing hundreds of licensing agreements. Important CTT clients include: SONY, Lucent Technologies, Matsushita Electric Industrial and Ribozyme Ribozyme A ribonucleic acid (RNA) molecule that, like a protein, can catalyze specific biochemical reactions. Examples include self-splicing rRNA and RNase P, both involved in catalyzing RNA processing reactions (that is, the biochemical reactions that convert Pharmaceuticals, Inc. Competitive Technologies, Inc. is based in Fairfield, Connecticut Fairfield is a town located in Fairfield County, Connecticut, United States. It is situated along the Gold Coast of Connecticut. Fairfield is a town of many neighborhoods, two of which -- Southport and Greenfield Hill -- are notably affluent. and has affiliates in Osaka, Japan and London, England. About Refac Refac is a full service intellectual property marketing organization and a leading developer of consumer products, medical devices and business equipment. The Company's expertise centers on its ability to maximize the earning potential of intellectual property rights through creative licensing strategies, enterprising en·ter·pris·ing adj. Showing initiative and willingness to undertake new projects: The enterprising children opened a lemonade stand. brand extension ventures, and entrepreneurial en·tre·pre·neur n. A person who organizes, operates, and assumes the risk for a business venture. [French, from Old French, from entreprendre, to undertake; see enterprise. product design/engineering programs. Statements about CTT's future expectations, including development and regulatory plans, and all other statements in this document other than historical facts are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of applicable Federal Securities Laws and are not guarantees of future performance. These statements involve risks and uncertainties related to market acceptance of and competition for the Company's licensed technologies and other risks and uncertainties inherent in CTT's business, including those set forth in Item 1 of CTT's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended July 31, 1998 and other factors that may be described in CTT's filings with the SEC, and are subject to change at any time. CTT's actual results could differ materially from these forward-looking statements. CTT undertakes no obligation to update publicly any forward-looking statement. |
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