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1.
A word used to describe 3rd party or poor quality goods.

Things that fit under the Madcatz umbrella are:

Clothing made by:
Asda, Bench, Donnay, Kappa, Kevin Klein, Tesco

Electrical goods manufactured by:
Joytec, Logic 3, Logitech, Teco, Madcatz

Food and drink made by:
Aldi, Happy Shopper, Netto

Mobile Phones and MP3 players made by bands other than:
Apple

Motorcycles by:
Aprilia

Other general rules:
If an item has a turbo button,
If an item is covered with an excessive amount of stickers or decals,
If an item has been fitted with extra lights that have in no way enhanced the performance or function of the item.
Dave: Hey Luke.
Luke: Hey Dave, is that a new mobile you have there?
Dave: Yeah, you like it.
Luke: No, it looks a bit 3rd party to me. Why didn't you just get an iPhone?
Dave: I'm not spending that kind of money on a phone besides, this phone does everything the iPhone does.
Luke: Yeah and it's probably got a turbo button too.
Dave: ???
Luke: That phone is madcatz. FACT!
by cptchopper69 October 12, 2010
 
2.
Any video game controller that isn't a part of that system's brand controllers. If someone owns 4 controllers for a video game system, statistics show that at least one of these controllers is a Mad Catz, because they're much cheaper than the actual brand controllers. All Mad Catz for every generation of controller includes a turbo button, which royally fucks you over if you ever touch it.

NOTE: Despite the company that the "makeshift" controller comes from, it is still referred to as a Mad Catz controller.
John: "Yo, you wanna play some 4 player Hello Kitty Island Adventure with us?"

Xavier: "Ya, as long as I don't have to use the Mad Catz though."
by Jesus Christ $uperstar October 11, 2010
 
3.
Synonymous with words like failure, garbage.
"I continued to have problems with my Madcatz-branded accessory even after they allegedly repaired it. Oh well, that's typical Madcatz. :("
by Firecrest_Neoflames March 30, 2009
 
4.
Crazy kittens. A clutch of insane felines.
Avast! Those mad catz are sure putting the beatdown on those milkmen.
by Nam June Paik August 13, 2007