FAIRFIELD, Conn., March 20, 2001 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today the appointment of Paul A. Levitsky as Associate General Counsel and Technology Commercialization Executive. Levitsky brings a varied and distinguished background to CTT, including both intellectual property and business experience. In his new position, he is responsible for assessing the value of our clients' and CTT's intellectual property portfolios. Additionally, he will prosecute and enforce patent rights owned by CTT and its clients. Levitsky will support our implementation of strategies for technology commercialization including preparing nondisclosure, invention management, licensing, intellectual property, strategic partnership, and other legal agreements.
Prior to joining CTT, Levitsky was with Pitney Bowes Inc. for more than 15 years, most recently as Corporate Counsel-Intellectual Property & Technology Law. At Pitney Bowes, a worldwide leader in mailing, messaging and logistics technologies, he represented several business units, including serving as International Product Manager of their Shipping & Weighing Systems Division and as the Manager of Marketing Programs in the Facsimile Systems Division. Before Pitney Bowes, Levitsky was a Communication Officer in the United States Marine Corps where he served as the Officer in Charge of the Fleet Marine Forces Atlantic Communication Center.
"Paul has the experience and training we need to accelerate our technology acquisition and commercialization program," said Frank R. McPike, Jr., President and CEO of CTT. "Additionally, our intellectual property rights protection and enforcement functions are strengthened with Paul's addition to our team. Protection and enforcement are critical components of our program."
Levitsky said, "I look forward to being a part of the CTT team and to expanding and commercializing the technology opportunities in CTT's portfolio."
Levitsky is a successful inventor himself and is the named inventor on four patents. He is a Registered Patent Attorney and is licensed to practice law before the Connecticut Bar, the U.S. Court of International Trade, the U.S. Court of Appeals for the Armed Forces, and the U.S. Court of Appeals for the Federal Circuit. He holds a law degree from the University of Bridgeport School of Law (now Quinnipiac University), a BBA in Marketing from Iona College, and an MBA in International Business, with honors, from Sacred Heart University where he is an adjunct professor on the faculty of the School of Management.
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 expertise and experiences make it a valuable partner for inventors, companies and universities of all sizes. CTT has been responsible for closing hundreds of licensing agreements. CTT clients and licensees include: Sony, Matsushita Electric Industrial, the University of Colorado, the University of Illinois, Digital Ink, Inc., NTRU Cryptosystems, Inc., Palatin Technologies, Inc. and Ribozyme Pharmaceuticals, Inc. Competitive Technologies, Inc. is based in Fairfield and has affiliates in Osaka, Japan and London.
Statements about the Company's future expectations, including development and regulatory plans, and all other statements in this document other than historical facts are "forward-looking statements" 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 the Company's most recent Form 10-K and other factors that may be described in CTT's filings with the SEC, and are subject to change at any time. The Company's actual results could differ materially from these forward-looking statements. The Company undertakes no obligation to update publicly any forward-looking statement.