Princeton University isn’t happy that Merrill Lynch has decided to rename its money-management business after the New Jersey city of the same name. While it isn’t clear what lawyers for the school can do legally, The New York Times reports that they have asked the firm to change its name, and in the past the school has had some success with getting what they view as unauthorized users to back off. A Princeton spokeswoman, Cass Cliatt, told The Times that Merrill is trying to “exploit the university’s name and reputation for commercial good,” supporting her assertion with a quote by ML executive Robert Doll, who told The Wall Street Journal earlier this week that “Princeton has positive connotations, given the prestige of the university.” But Merrill Lynch, in a press release, has distanced itself from the Doll comments and says inspiration for the Princeton name comes from its longtime headquarters in the Princeton area. That may be true, but technically ML is based in Plainsboro, which is in the same county, Mercer, as Princeton. Indeed, locals may want to be more benevolent to Merrill Lynch, the largest employer in the county.
