Jay Z and Beyonce have failed in their quest to trademark the name ‘Blue Ivy.’

The hottest couple in the music business named their daughter Blue Ivy Carter earlier this year and wanted to trademark the unusual moniker, so that they could launch a line of baby products.

Unfortunately for Jay Z and Beyonce, Veronica Alexander had other ideas. Veronica founded an events and wedding planning company, Blue Ivy Events, back in 2009 and wasn’t prepared to let the name go – no matter how rich and powerful her rivals happened to be. “Money doesn't buy everything,” Alexander said to Rolling Stone. The famous couple filed a petition to the US patent’s office and in response, Veronica filed her own application. The trademark office have authorized her to continue using the name. Meanwhile Beyonce and Jay Z can use the name for other products and services but they will not get sole rights to the title. Good news for both parties – even if Blue Ivy’s parents didn’t quite get the exclusivity they were after.

“I knew this was going to be a bittersweet roller coaster. If this [hadn't worked], I'd go after both of them," said Alexander. "There's no way by way of being a celebrity they should have entitlement [to the name]. Shame on them." Having said that, she’s secretly pleased that she and the music legends both have the same taste in names: “For me it was a very large compliment… All in all I was extremely happy that my design capacity is pretty badass.”