Lotus, Renault and Virgin F1 teams change names for 2012

The battle, as you may recall, involves two outfits - neither of them directly owned by Lotus. One is based in Malaysia and licensed the name from Lotus' parent company, Proton, before subsequently "acquiring" the name from a third party that laid claim to it. The issue was further complicated when Lotus itself teamed with the Renault F1 team, resulting in two squads called Lotus-Renault.

The two operations have now reached a compromise. The green-and-yellow Malaysian outfit known until now as Team Lotus be named Caterham in 2012, while the Renault team will be cleared to use the Lotus name.

Source: http://www.autoblog.com/