The problem is the hypocrisy. Every other organization in the U.S. can trademark their name, but only in their industry. The USOC does not sell gyros, meat, wine or movies.

I really would like to know how this organization has gotten so much power.

EDIT: I'm curious how this paint company has kept the name: http://www.olympic.com/ Were they granted the trademark earlier? Plus the paint brush is a play on the torch. They have the domain name, so someone at the usoc must have seen them.