Officials confirm Harry and Meghan will have to give up 'Sussex Royal' brand in March

The verdict is in; Prince Harry and Meghan Markle will be giving up their "Sussex Royal" brand name when they leave the royal family.

The news follows speculation that the Queen was preparing to ban the couple from continuing to use the name, which features heavily across their Instagram page and official website.

The duke and duchess had also filed several trademark applications for the name, prompting rumours that they planned to "build an empire" using the brand name for new commercial work after leaving the monarchy.

Now, those plans have been stopped in their tracks as a royal spokesperson confirmed the couple will give up the name when they leave the royal family next month.

"The Duke and Duchess of Sussex do not intend to use 'Sussex Royal' in any territory post Spring 2020," a spokesperson for the couple told ABC News, suggesting that they'll be giving up the name when they officially finish royal duties on 31 March.

"While The Duke and Duchess are focused on plans to establish a new non-profit organisation, given the specific UK government rules surrounding use of the word 'Royal,' it has been therefore agreed that their non-profit organisation, when it is announced this Spring, will not be named Sussex Royal Foundation."

The spokesperson also confirmed that the trademark applications Harry and Meghan had filed have now been removed, despite the couple having defended their claims to the name several times in the last few months.

The loss of their brand name is a blow to the Sussexes, who seemed to be gearing up to build an empire out of 'Sussex Royal', but experts say they should've seen this coming.

"They were never going to be able to Sussex Royal as non-working royals," Victoria Arbiter, 9Honey's royal columnist, said last week.

According to the royal family's official website: "Names of the Royal Family may not be registered in, or as, trademarks without the consent of The Queen or the relevant Member of the Royal Family."

This suggests that the Queen herself may have stepped in to ban the couple from continuing to use 'Sussex Royal', yet another restriction placed on Harry and Meghan as they prepare to leave "the firm."

Since announcing their exit, the couple have also given up the right to use their HRH titles, their office at Buckingham Palace, and their access to royal funds.

Earlier this week, the palace also confirmed that Harry would no longer be able to serve his honorary military roles, though he would retain his ranks of Major, Lieutenant Commander, and Squadron Leader in the British Armed Forces.

As more and more terms of the "royal exit deal" are revealed, experts say the couple will end up "disappointed" with the many restrictions on their new, private lives.

The loss of their brand name, which the couple seemed only set to expand in the coming years, is therefore yet another blow in their gradual exit from the monarchy.