Naming a strain

When do you get to slap your own name on a strain? If I were to do my own pollenating, and cross two well know strains, would it be acceptable practice to rename the strain? Or is that kind of a cheezy thing to do.
What if I were to buy a bag of chemdawg and found a few beans in there. Could I pop those, and call them Burrbud instead? That would be lame wouldn't it.

The way I see it, if you cross two known strains you should call it Strain A x Strain B until you manage to stabilize the traits you are breeding for. Once it is reasonably stable, you could come up with your own name for it.