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Welcome to acorn, obviously you should always do your research before setting up a company name or idea, as someone bigger with rights can always come in take it down in a day - if they win, however when it comes to trading names, there's usually a number of articles which refer to the products and categories you can work around, if similar to the other entity then may have a problem.
There's nothing wrong with holding another company's name or idea or pairings of words in another extension, but expect them to come knocking if they fancy it, if you want a quick flip just email them but that can sometimes set off the legal beagle.
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