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It really depends on the name and if it's really a trademark. For example and excuse me for using my name but in this particular example it makes sense.
My company name is trademarked as "Imagine Creative Services". If someone uses the name I have the legal right to go after them. If someone uses "Imagine Creative" or "Creative Services" then I don't because they are too generic of terms to be used or actually be allowed to be trademarked. Anyone can add a "TM" or "(r)" to anything, especially online. I would check with the National Registry to see if they actually are legal trademarks.
If you are selling a service or product with a trademark make sure you post their trademark information. If you are just putting competitors names just for the sake of being listed when they type their name online then it's definitely an ethical issue like Greg mentioned in his post. Potential customers would probably be upset if they were trying to go to site A and actually went to site B. I know I would and I would and would never buy from you. But that's just me. It's overall bad business practice.
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