Profile: Competitive Technologies Inc (CTTC.PK)
Competitive Technologies, Inc. (CTTC), incorporated in 1971, provides distribution, patent and technology transfer, sales and licensing services focusing on the needs of its customers. CTTC develops relationships with universities, companies, inventors and patent or intellectual property holders to obtain the rights or a license to their intellectual property (technologies) or to their product. The Company also develops relationships with those who have a need or uses for technologies or products. During the year ended December 31, 2011, the Company earned revenue in two ways: retained royalties from licensing CTTC's clients' and its own technologies to its customer licensees, and sales of finished products. CTTC is the obligor, responsible for delivering devices, as well as for training its customers to use the device. The Company deals directly with customers, setting pricing and providing training.
CTTC acquires rights to commercialize a technology or product on an exclusive or non-exclusive basis, worldwide or limited to a specific geographic area. When the Company licenses or sublicense those rights to its customers, the Company may limit rights to a defined field of use. Technologies can be early, mid, or late stage. Products CTTC evaluates must be working prototypes or finished products. The Company's services are beneficial to the inventor, manufacturer and distributor of the product. The Company earns revenue on a per-unit basis through product distribution agreements. For some products, the Company will act as the distributor in specific geographic areas, again sharing the revenue with product inventor and/ or manufacturer. The Company's services are beneficial to the provider and user of the technology. The technology client can focus on research and development, rather than selling and marketing. The technology customer can focus on selling and marketing, rather than research and development.
CTTC maintains and enforces its clients' and its technology patent rights, by monitoring and addressing infringement. The Company identifies and commercializes technologies in life and physical sciences, electronics, and nano science. Life sciences include medical testing, diagnostics, pharmaceuticals, biotechnologies, medical devices and other medical or biological applications. Physical sciences include chemical, display, and environmental applications. Electronics include communications, semiconductors, Internet related, e-commerce and consumer electronics applications.
Nanotechnologies are the manipulation of microscopic particles into useful arrangements, and materials; a nano particle is one thousand times smaller than the width of a human hair. The Company has technologies in each area, with a concentration in life sciences. Numerous technologies and products are reviewed and evaluated in terms of current, mid- and long-term revenue potential. Both products and technologies have the potential to produce different levels of revenue throughout the life of the agreement. CTTC includes mutual non-disclosure provisions about the product or technology in agreements granted to protects value, for CTTC, its clients and its customers. The Company commercializes technologies and products through contacts in researches and development, legal firms, corporations, seminars and trade shows.
The Company licenses technologies to generate revenue based on usage or sales of the technologies, or by sharing in the profits of distribution. During 2011, CTTC’s revenue primarily represented the sale of devices to either international distributors or end users in the United States. It also includes rental income from situations where the Company rented the device to end-users in the United States and gain from the sale of rental assets. Sales of the Company’s Calmare pain therapy medical device are the major source of revenue for CTTC. The Calmare device has conformite europeenne (CE) mark certification from the European Union, as well as the United Sates Food and Drug Administration (FDA) 510(k) clearance. During 2011, CTTC negotiated a distribution agreement with Life Episteme Italia (LEI) for the countries of Italy and Malta. Other technologies in CTTC's life sciences portfolio include nanotechnology bone cement biomaterial, sunless tanning agent and sexual dysfunction technology. The Company's applied science/electronics portfolio includes encryption technology, video and audio signal processing technology and structural steel fissure detection paint.
Competitive Technologies Inc
Suite 400, 1375 Kings Highway Ea
FAIRFIELD CT 06824