The wheel at Barry Island Pleasure Park is known as the “Eye” by locals but its owners said this was not itÂs official name.
Merlin Entertainments Group (the owners of the London Eye) said it implied a connection with the London Eye, which it said would benefit the attraction in Barry.
Owner Henry Danter said: “We are flattered that such an internationally-known company is interested in the progress of Barry Island Pleasure Park.
“We are a goldfish in a bowl in comparison with Merlin who are the whales in the ocean.”
He said he would take legal advice on what he could call the ride.
A Merlin spokeswoman said: “While it’s pleasing The Eye trade mark has such broad appeal, we wouldn’t want to confuse people and therefore came to an amicable agreement with Mr Danter not to promote it as such.
“We wish him and his venture every success.”