The road car manufacturer Renault seems to want to distance themselves from the Renault F1 team, and the road car manufacturer Lotus wants to start calling the current Renault F1 team “Lotus”. If the current Lotus F1 team needs to change their name, they could always team up with the car manufacturer Renault and start calling their team “Renault”. So the two teams would, in effect, swap names. ;)
I think that would be an ideal solution to the naming dispute, because Mike Gascoyne, Jarno Trulli, and Heikki Kovalainen have all worked before in the Renault F1 team, back in time when the road car manufacturer Renault actually owned the team that carries their name. Also, the current Lotus racing team has already a close connection to the car manufacturer Renault through their engine deal.
But if the court allows the current Lotus team to keep their name, then it might be smart for them to just stick to their guns and keep the name. The road car manufacturer Group Lotus doesn’t want to sponsor them as long as they are back markers, but things might change if they can make their cars quicker in the next two or three years. It doesn’t make much sense to advertise Lotus road cars by sponsoring the Renault F1 team, if there is a Lotus F1 team that can challenge the Renault cars.