I'm not an intellectual property lawyer and I can, in any event, only speak to the UK legal position.
Under UK law, there is no copyright in a name. Copyright protects artistic works - eg, books, sound recordings, paintings etc - but not individual elements, such as names, phrases etc, within them.
Names can be eligible for protection as a trade mark, and I believe that a number of LotR-related names have been registered as such in connection with LotR merchandise (action figures etc). However, a trade mark will only be infringed when another person uses the same name commercially in connection with the same, or similar, goods or services.
Hope that helps.
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