It's time to close the curtain on the "Sussex Royal" (opens in new tab) that Meghan Markle and Prince Harry have adopted as a couple and have continued to use in their branding efforts as they transition into their new life together. (opens in new tab) In a statement from Buckingham Palace given to royal reporter Omid Scobie, the Palace confirms: "It has therefore been agreed that the name of their non-profit organization, to be announced this spring, will not be the Sussex Royal Foundation. The Duke and Duchess of Sussex do not intend to use "SussexRoyal" in any area after Spring 2020."

After announcing in January that they were stepping down as "senior members" of the royal family, Meghan and Harry formally applied to trademark "Sussex Royal," the name of their Instagram page (opens in new tab) and website. (opens in new tab) (The name is very easy to decipher - they are the Duke and Duchess of Sussex, as well as the Royal Family). The idea was that the couple could use the name for a non-profit organization they were launching in the future, as well as for products they would sell. However, the trademark application was formally opposed, resulting in a month-long dispute within the royal family over whether the couple could use the word "royal" for their own economic benefit and for their non-profit organization, i.e., their personal brand, not the royal family.

The answer is: ...... No, it does not. The titles of Duke and Duchess of Sussex will remain, but they will lose the title of HRH and the right to use the term "Sussex Royal" for branding purposes, according to the Palace's announcement in January; they will remain members of the royal family, but they will not be granted certain privileges (like their previous designations). The application to register the trademark was withdrawn with the announcement.

Here is the full statement:

All of this will be officially approved when Meghan and Harry begin the next chapter of their lives on March 31 (so they won't have to immediately choose a new nickname or beg Instagram to give up their handle ). This new "arrangement" has a 12-month review period, but if the Palace disagrees with Meghan and Harry's response, who knows what will happen next?

So it's time to bet on exactly what their new moniker will be and what their foundation will be named after. The Sussex Family? The Sussex Family?'The Markles' (I have a dream, okay?)

For more stories like this, including celebrity news, beauty and fashion advice, savvy political commentary, and fascinating features, sign up for the Marie Claire newsletter.

Click here to subscribe (opens in new tab)