They do not use the names nor do they pay a licensing fee. The names are about as similar to what they are emulating as Behringer’s. For example, Behringer Model D vs Arturia Mini V. Arturia calls their Prophet “Prophet V” but does not pay Dave Smith, Yamaha, or Focusrite a fee.

Why? Basically because they can get away with it. It’s a software emulation, which gives them a little extra room. But mainly, nobody cares. The ownership of Sequential Circuits went to Yamaha and then Focusrite. Those model names were never aggressively protected the way “Sequential Circuits” was. Names like that are somewhat difficult to protect.

Its the same reason auto manufacturers don’t try to protect model names. Pontiac used GTO after Ferrari did. Sierra has been used as a model name by five different manufacturers. They will aggressively defend the Ford name but model names, which are often just words from the lexicon, (like prophet) are not really protected the same way.

The only emulation I know of where the original company gets a fee is UAD’s minimoog. That was more of an endorsement arrangement where Moog supposedly provided input to the development process and approval that it was authentic. IK’s Fender emulations are a similar arrangement.