James Watt and Martin Dickie, who founded BrewDog, named their recent grapefruit and blood orange IPA Elvis Juice.
It didn't go down well with the representatives of Elvis' estate who told them they were infringing on the image rights of the legendary late singer.
James and Martin argued that the name Elvis was not exclusive and to make their point have now both legally changed their own monikers.
James - now Elvis Watt - said: "We're caught in a trap and suggest the grey-suited hound dogs at the Presley Estate recognise that the name Elvis is not exclusive.
"So in an effort to patch it up, we've changed our names to highlight our burning love for the best grapefruit IPA out there.
"From this point forward, Elvis Juice is named after us, the brewers formerly known as James and Martin.
"We may even file a case against Mr Presley for using our names on all his records without our written permission."
Elvis Dickie added: "We would like to recommend that the Presley Estate diverts its attention to another potential source of quick remuneration, a brewery that calls itself 'The King' of beer."
BrewDog launched the Elvis Juice IPA earlier this year and it has become one of their best-selling products.
The company was founded in 2007 and now has nearly 50 bars and bottle shops around the UK.
They postponed the launch of production at its new US headquarters, following a delay in the delivery of key equipment.