The New York based owner for a Chicago based tower has signed a naming-rights deal with a London based insurance broker. Confused? OK here's all you need to know: the Sears Tower will soon be renamed [1] to the Willis Tower.

Willis Group Holdings got the naming rights to America's tallest building after it decided to move 500 employees to the location. The rent is $14.50 a square foot, and naming rights for the iconic tower came included. Experts are wondering why the building gave the rights to a tenant who will only occupy 3.5 percent of the space.

The skyscraper has always been named Sears Tower, since it opened in 1973 as the headquarters for Sears Roebuck & Co, whose rights expired a few years ago.

Do you think the owners should have kept the name for tradition's (and visibility's) sake?

Source [2]