Team boss Eric Boullier has confirmed that Renault plans to change its name for the 2012 season.
With there currently being a team called Team Lotus competing against Group Lotus-sponsored Renault, the parties have been seeking a solution.
It appears the plans are for Team Lotus to adopt the name of owner Tony Fernandes’ carmaker Caterham for next season, with Renault becoming the sole Lotus.
But name changes are not encouraged in F1, meaning that the proposal will need to be approved by the sport’s F1 Commission.
It is believed some teams, like Sauber who were called BMW-Sauber long after the German marque’s withdrawal, expressed caution when asked to approve the Lotus solution.
"Name changes aren’t something that should be encouraged," agreed FOTA chairman Martin Whitmarsh.
"But if you’ve got two Lotus names in formula one it strikes me that isn’t desirable, it’s not what people really need or want in the sport," the McLaren boss told Reuters.
Boullier is confident the matter will be resolved by the time of the World Motor Sport Council’s December meeting.
"It’s just two team name changes at the same time and some people want to make sure it’s done with the right process and the right purpose. That’s it, nothing else," he said.