Sir Stelios Haji-Ioannou may use the easyJet name to launch an online travel agency, if the budget airline he founded changes its name.
Haji-Ioannou is locked in a battle with the airline about future strategy and business operations and is understood to be keen to use the name to set up a rival to Expedia and Travelocity.
The 38% stakeholder resigned from the board last month and believes the airline should stop buying new aircraft and instead pay shareholders a dividend.
A spokesman for easyJet said the board had considered rebranding as a worst-case scenario, but did not believe there were grounds for the licensing agreement to be terminated.
Another dispute between the two parties over the sale of ancillary products hits the High Court tomorrow (Tuesday).
Haji-Ioannou believes the airline has broken the terms of a licensing agreement that restricts it from receiving more than a quarter of its income from ancillary sources.