There are two potential problems, one legal and one perceptual. On the legal side, you may run into trademark issues if your name isn't sufficiently different

There are two potential problems, one legal and one perceptual. On the legal side, you may run into trademark issues if your name isn't sufficiently different from a generic term. You can already see this problem in Apple's App Store. When you search for "flashlight", you get a lot of generically-named apps. None of them can prevent any of the others from using a confusingly similar name because they're all based off a generic term. The second problem is one of branding. It's the same basic issue as the legal trademark issue, but from a different perspective. In the end, it's about confusion on the part of your customer/buyer. Trademark attempts to use the legal system to prevent confusion. Marketing uses branding and ad-spending to achieve the same goal.