Exhibit 99.1

                                                          For Immediate Release:


              COMPETITIVE TECHNOLOGIES LICENSES HOMOCYSTEINE PATENT
                                    TO ABBOTT

       Abbott Homocysteine Assays Carry Pass-Through License to Customers

Fairfield, CT and Abbott Park, IL (December 16, 2004) - Competitive
Technologies, Inc. (AMEX: CTT) and Abbott (NYSE: ABT) announced today that a
homocysteine patent license has been granted to Abbott under CTT's U.S. Patent
Number 4,940,658 and its foreign counterparts relating to homocysteine medical
tests.

Under terms of the agreement, Abbott is granted a license to the CTT technology
and will pay royalties on sales of Abbott homocysteine assays. Abbott's
homocysteine assay customers will be covered by the Abbott license from CTT.
Abbott customers such as hospital and commercial laboratories that have separate
homocysteine licenses from CTT will be relieved of their obligation to pay
royalties on reportable homocysteine results obtained using the Abbott assay by
virtue of the royalty paid by Abbott to CTT.

The agreement between CTT and Abbott includes a release to Abbott's customers of
any obligation to pay royalties to CTT for homocysteine test results obtained
using Abbott assays in the past. CTT has agreed not to pursue royalties from any
current or future Abbott customer with respect to past homocysteine assay tests
purchased from other diagnostic companies. CTT is pursuing such royalties
directly from the supplier diagnostic companies and reserves its rights against
these supplier diagnostics companies.

The license does not relieve Abbott customers for royalties on past or future
assays for methylmalonic acid. Customers should contact CTT for a license to
perform such assays.

The homocysteine patent is derived from discoveries made by CTT's clients, Drs.
Robert Allen and Sally Stabler from the University of Colorado and the late Dr.
John Lindenbaum from Columbia University.

About Abbott Laboratories

Abbott is a global, broad-based health care company devoted to the discovery,
development, manufacture and marketing of pharmaceuticals and medical products,
including nutritionals, devices and diagnostics. The company employs more than
55,000 people and markets its products in more than 130 countries. Abbott's news
releases and other information are available on the company's Web site at
www.abbott.com

About Competitive Technologies, Inc.

Competitive Technologies, established in 1968, is a full service technology
transfer and licensing provider focused on the technology needs of its customers
and transforming those requirements into commercially viable solutions. CTT is a
global leader in identifying, developing and commercializing innovative
technologies in life, digital, nano, and physical sciences developed by
universities, companies and inventors. The global market for technology transfer
services is estimated at $150 billion annually. CTT maximizes the value of
intellectual assets for the benefit of its customers, clients and shareholders.
Visit CTT's website: www.competitivetech.net


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Statements about our 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 inherent in our business, including those set forth in
Item 7 under the caption "Risk Factors," in our most recent Annual Report on
Form 10-K filed with the SEC on October 29, 2004, and other factors that may be
described in our other filings with the SEC, and are subject to change at any
time. Our actual results could differ materially from these forward-looking
statements. We undertake no obligation to update publicly any forward-looking
statement.

Direct inquiries to: Johnnie D. Johnson, Strategic IR, Inc.
                     Tel. (212) 754-6565; Fax (212) 754-4333

                     E-mail: jdjohnson@strategic-ir.com
                     E-mail: ctt@competitivetech.net

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