This is an interesting discussion. Coral branding and marketing is pretty fascinating stuff. I'll add to the theoretical discussion and hopefully it isn't too far off topic from the original post. I smell a thesis topic for my master's I'm working on.
I'm sure the day is coming when corals will be patented - I'm a bit surprised it hasn't happened already. It is widespread in the gardening and nursery industry - almost any plant you purchase from a local nursery, and definitely from a Rona or a Lowes, is a plant variety that has been patented. This allows the wholesaler to own the name of the plant, and the exclusive right to grow it (for commerical purposes). As you can imagine, there are almost an infinite number of plant varieties and hybrids, so I have no clue how they figure out that one tea rose for example is different enough from another tea rose to identify it as a new "variety". I'm sure the original grower or hybridizer wants the variety to be identified as a beauty, that way their name is attached to it (a big thrill for a hobbyist and you can see this happening with corals to trace lineage and origin), and a potential financial boom for a wholesaler (can you imagine if everyone in North America wanted a Jroovers Superman Tea Rose??)
Theoretically, anyone of us could apply for and patent a coral and use the name we want. Assuming they will grant them for corals, which I can't imagine they wouldn't given they aren't that different from plants, I could apply for the patent on "Red Planet", and if granted, could ask ORA to cease and desist using the name (assuming they haven't done so already). Obviously, a lot has to do with reputation - no one is going to want to buy a jroovers red planet over a ORA red planet even if I do have the patent. I'm guessing to this point there hasn't been enough financial incentive to patent corals, but if I were a major supplier in the states, I would be looking at patenting any popular pieces that I aquaculture and sell for wholesale/retail. Would involve a lot of resources though (financially and time wise), but the way people are throwing out $'s at 1" frags nowadays, that day is coming. Right now I can sell you a frag of my red planet, and tell you that is ORA, and you'd have to take my word for it. I got my frag from Dwayne, and I can't recall where he got his from (if it is the original ORA or a simlar variety or a RR Red Planet). The point is, most people are going to pay more for a tried and true ORA red planet than the "similar to" version, even if both are acquacultured, and even if the non-ORA piece is nicer in many people's opinion. You'll probably get a certificate of authenticity with your patented frag to demonstrate its lineage. This is one of the foundations of successful branding, it has a place in your mind that you associate with some type of value added. In the end, any piece is only worth as much as someone is willing to pay for it, but too many in my opinion are falling prey to the "hype". I've been guilty of it just as much as anyone.