It's basically no different than "fresh" or "organic" on grocery labels. Apparently the FDA does put some limitations on "fresh," while the USDA puts limitations on "organic" [1]. I'm not sure we even have an equivalent agency in our industry - maybe NIST? I agree it would be a nice regulation, but I think that horse has long left the barn, and it's not like you'll get to compel companies to change their name, so you'd just be left with some more regulatory capture as OpenAI keeps their name while new companies can't abuse the same bait-and-switch trick.

[0] https://www.accessdata.fda.gov/scripts/cdrh/cfdocs/cfcfr/cfr...

[1] https://www.ams.usda.gov/about-ams/programs-offices/national...