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What's in a name? More than you might think, particularly in Formula One where two teams have been fighting for use of the Lotus moniker for a couple of years now.

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Team Lotus of Formula One confirmed it will extend its F1 engine deal with Renault through to the end of 2013. The team, headed by entrepreneur Tony Fernandes, announced at the Singapore Grand Prix that it will employ a Red Bull-developed KERS system starting in 2012. Fernandes said the Team Lotus-Renault-Red Bull deal will put the team on a more even playing field:

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Team Lotus of Formula One confirmed it will extend its engine deal with Renault through the end of 2013. The team, headed by entrepreneur Tony Fernandes, announced at the Singapore Grand Prix that it will employ a Red Bull-developed KERS system starting in 2012. Fernandes said the Team Lotus-Renault-Red Bull deal will put the team on a more even playing field:

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Glancing down the F1 roster this year has lead to a little confusion for many. That's because there are two teams that lay claim to the Lotus name, and they're both powered by Renault. The French automaker and engine supplier is stuck in the middle of the naming-rights tug-of-war, but if you were hoping things might be clarified for next season, don't hold your breath. Because while the real Lotus continues its partnership with Renault over one team (the one in the black and gold in the middle o

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Say what you will about the state of Formula 1 racing today, but at least when the day is done, there's a winner and there are losers. The drawn-out legal battle between Group Lotus and Team Lotus, however, has come to a rather anticlimactic resolution.

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Caterham Seven Team Lotus Special Edition – Click above for high-res image gallery

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Colin Chapman's legacy is a great one, without a doubt. But Lotus – the automaker and engineering firm he founded – isn't the only one wielding it these days. So, too, do a number of manufacturers that build "continuation" versions of the famed Lotus 7, chief among them Caterham. And so does Team Lotus.

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Lotus Renault F1 – Click above for high-res image gallery

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With the 2010 World Championship consigned to the history books, the Formula One grid is gearing up for next season. Sixteen out of twenty-four seats have already been spoken for as Lotus and Williams have each confirmed both their drivers.

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The relationship between Lotus the automaker and Lotus the F1 racing team only seems to be getting more complicated. The name was licensed by Malaysian state automaker Proton to fellow Malaysian businessman Tony Fernandes for use by his F1 team. Then Fernandes announced he didn't need Proton's permission and bought the name from a third party who claimed ownership. Proton and Lotus disputed the claim and canceled the licensing agreement, but Fernandes insisted he was within his rights. Both Lotu

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If you thought it was confusing for Red Bull to own two F1 teams, you ain't seen nothin' yet. Emerging reports from the F1 paddock seem to paving the way for not one, but two teams under the Lotus-Renault banner.

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Stick with us here, because this is going to get a little complicated. We have on the one hand Lotus Cars and Group Lotus. On the other we have the current Lotus F1 team. The former – producers of such sportscars as the Elise and the new Elite – is owned by Malaysian state automaker Proton. The former is also Malaysian-owned, but by businessman Tony Fernandes (pictured above, owner also of Air Asia), and uses the name Lotus under license from Proton.

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2010 Lotus T127 - Click above for high-res image gallery. Follow the jump to watch video.

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Lotus F1 racer - Click above for high-res image gallery

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With over a dozen teams all bidding to join a new cost-capped F1 next season, it would take a big name to stand out above the competition. Lotus ought to do the trick.

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