There WAS a legal issue at one point, as I recall. I think it was determined that only a band with Chris Squire - the sole original member - in it could call itself Yes. I'm guessing that with Squire's death, the gloves are now off.
How long is it before Anderson and Howe sue each other?
I assume you're speaking of the ABWH/Union period. Squire put it succinctly in an interview - "The band is owned by the majority of people currently in the band." It was not that HE had to be in it. It was, as I have been saying all along, institutional continuity. If a band starts out with ABCDE for members, then E quits and is replaced by F, the band is now ABCDF. If D then gets fired and is replaced by G, the band is ABCGF. Then it might be ABHGF, then AIHGF. H, G and F could fire A if they had to, or A could die, and be replaced by J, and JIHGF is still the band, even though A was the last remaining original partner. That's how companies work. The majority of shareholders control the company. A, B and C could then get together and say THEY want to be the company now, but them saying so (and fans liking them better than the company as it currently stands) doesn't make it so.
In Yes' case it's a bit more complicated, because - the major news item in the OP - what no one seems to have known in the public till now is that there are THREE Yes LLCs, Yes '97, Yes 2003, and Yes Touring, and Anderson and Wakeman are majority shareholders (now) in Yes 2003, which must have been set up when they were both in the band and never shut down. Not sure why that happened, but here we are.
I'm not sure where the irony is . . . I disagreed with Chris on that . . . and I disagree with Steve, Alan, Jon, Rick, etc. Not to say that my opinion carries (or should carry) as much weight as theirs, but I personally wish they would have put the "Yes" name to rest three decades ago and continued to make music based on the music's merit rather than trying to cash in on a once-glorious name.
It's ironic that you made Squire the definition of Yes when that's precisely the opposite of his vision. And where some people say "cash in on a once-glorious name," others might say "continue to work at their job." There no obligation for anyone to LIKE anything, of course, and I totally understand not liking a band's more recent output compared with their early days. I couldn't get into Fly From Here they way I got into Fragile, myself. My favorite Indie band, Cold War Kids, has morphed into a mediocre imitation of Coldplay, to my dismay. But I see zero point in trying to say, "That's not Cold War Kids, because it doesn't sound like what I liked about their early albums." It's just where they are now. Lord bless 'em and let 'em do what they want.