It is open source, they want the rights to the name that the project was run under transfered to the company now that the employee that was running the project

It is open source, they want the rights to the name that the project was run under transfered to the company now that the employee that was running the project (effectively on their behalf if his salaried time was given over to the product) has left. It doesn't seem really that it is too unrealistic an expectation and should have been thought out in advance really.