Hi,
It's very difficult to assist you as the error message you have given is coming from OS rather than from Teamcemter. Please refer to the following suggestions, I hope it helps you.
Please check if you have any port that is being blocked by the windows firewall.
If you are working in Windows 7 or Vista .....
It could also be possible that UAC Controls are preventing from establishing the connection.
Enable dsptrace on server side and check the trace for any advanced details.
Sent from my iPhone
Thanks & Regards
Raghavendra L