It's not just the name.. besides Activision only owns the title Starfleet Command III.. Taldren owns the name sake of Starfleet Command.. Activision purchased the permission from Interplay to create a game based on the source code that Interplay owns.. Taldren was hired to build the game which is basically a revision of the OP source code which is a revision of the EAW code which is a revision of the SFC original source code...
The name Starfleet Command left interplay with Erik Bethke when he formed Taldren.
Now as for using the source code, SFC original belongs to interplay's 14 East department, EAW and OP belongs to Taldren with licensing by Interplay... the SFC 3 source code belongs to Activision..
However the Source Code is also Intellectual Property of the employees of Taldren.. as such, unless Taldren releases the source code, no one can work on it.. as such, no more SFC games..
Now for anyone to make a game based on SFC would have to secure permission from Taldren, Taldren's former employees, 14 East division of Interplay, Activision, Quick Silver, Paramount/Viacom Studios, Interplay, and anyone else involved in the production of SFC just to cover the Intellectual property involved as well as the source code..
Currently, someone would have to create a whole new game that is at least 20% different in design, programming code, graphics, and playability in order to override the copywrites.. but then you would have a totally new game and it would no longer be SFC... and since the name SFC belongs to Taldren and they are closed, and the name is copywritten, then SFC can not be used for the game title..
so this leaves us with a whole new game under a whole new title.. that means there could never be another SFC and as such, the SFC franchise died with SFC 3 and Taldren's closing..
I'm sure that someone could build a game similar to SFC, but there would be major differences in the game to make it a totally different game all together...
Sorry to burst all of your bubbles, but unless Erik sells the SFC name and everyone releases the copywrites to the titles and Intellectual properties and Source Codes, no one can develope squat in relation to SFC's source Code or title for sale or even redistributed since it is illegal to alter the exe files and the q3 files currently (although Quicksilver is attempting to give a hand on how to edit the q3 file structure for Mods)...
Now if the Source Code is released, then people will be free to make an almost new game using the original source code, however it would be considered a MOD of the original game AND they would not be able to sell it as it would be Copywrite infringement... so that deters a lot from even attempting to develope a new SFC game because there is no profit in it...
Anyhow, just thought you should know.