FAIRFIELD, Conn., Dec. 21, 2000 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today that on behalf of itself and the University of Illinois, it has filed a complaint with the United States International Trade Commission (ITC) against Fujitsu Limited of Tokyo, Japan, under Section 337 of the Tariff Act of 1930, as amended. CTT is requesting the ITC stop Fujitsu and/or its subsidiaries from unlawfully importing plasma display panels (PDPs) into the United States on the basis that the panels infringe US Patent Nos. 4,866,349, and 5,081,400 held by CTT's client, the University of Illinois. CTT is a global technology commercialization firm representing technologies and inventions from leading universities and corporate clients.
Coincident with CTT's ITC filing, a complaint has also been filed against Fujitsu in the United States District Court for the Central District of Illinois seeking damages for past infringements, and entry of an injunction against future sales of plasma display units that infringe these patents.
The ITC has the power to issue orders directing US Customs to stop future importation of Fujitsu PDPs and other products that use the panels, including some flat screen televisions, that infringe on the two named patents. The Commission is expected to make a determination whether to proceed in the investigation in about 30 days. ITC investigations are typically completed within 12 months.
The two patents emanate from the scientific discoveries at the University of Illinois of inventors, Larry F. Weber, Kevin W. Warren and Mark B. Wood. Their inventions provide for energy recovery used in large PDPs and plasma display flat television screens.
"Our client, the University of Illinois, is entitled to the benefits of, and the protection afforded by its patents," said Frank R. McPike, President and CEO of CTT. "We believe all companies should abide by applicable U.S. patent laws."
Competitive Technologies represents and licenses numerous inventions made at the University of Illinois. CTT took today's action because of Fujitsu's unwillingness to negotiate a license agreement.
Fujitsu is currently selling PDPs and plasma display flat screen televisions in the United States. Fujitsu indicates, in its promotion materials, that it is the world's largest manufacturer of PDPs, and has invested a total of $600 million in PDP manufacturing facilities in Miyazaki, Japan between 1996 and 2000.
The use of the patented technology is a critical component of large screen plasma displays and televisions. Matsushita Electric Industrial Co., Ltd., and Matsushita's subsidiary, Plasmaco, Inc., have each obtained a non-exclusive license from CTT to the patented technology. Their products include Panasonic brand 42 and 60-inch flat screen units.
In what could be described as a dispute between David and Goliath, CTT is pursuing the ITC established procedure as a remedy to Fujitsu's unwillingness to negotiate a fair license agreement. CTT seeks the earliest possible resolution that will provide compensation for work done to conceptualize, invent and protect this important patented technology, which allows PDPs and flat screen technologies to operate.
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 experience makes 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, NTRU Cryptosystems, Inc., Palatin Technologies, Inc. and Ribozyme Pharmaceuticals, Inc. Competitive Technologies, Inc. is based in Fairfield, Connecticut and has affiliates in Osaka, Japan and London, England.
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 Form 10-K for the year ended July 31, 2000 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.