The Tropic Thunder actor reteamed with his 24 Hour Party People filmmaker Winterbottom for the movie, initially called Paul Raymond's Wonderful World of Erotica.
Its name was subsequently changed to The King of Soho, but Raymond's son Howard filed suit over the title, arguing that he had already trademarked the name for a rival production based on his dad's life.
Winterbottom has since backed down and will change the title of his project, allowing Howard to press ahead with his The King of Soho production, starring The Avengers star Tom Hiddleston in the lead role.
Howard Raymond says, "I am delighted that Michael Winterbottom has agreed to change the name of his film. It was causing a huge amount of confusion in the media that two films were being made about my father under the same title."
Winterbottom's movie, scheduled for release next year (13), is currently in post-production and a new name will be announced "in due course".
Raymond opened the U.K.'s first strip club, Raymond Revue Bar, in 1958. He also published the magazines Razzle, Mayfair and Men Only. He died in 2008.