MVP created his gimmick 100% (which is basically just him with the volume just turned up all the way), he owns that. All WWE did was give him a tunnel and pyro and he was on his way, they still owned rights to it obviously nonetheless.
I'm confused as to why it stands for Montel Vontavious Porter. Can they do that? I mean, I understand MVP being allowed, but in the vid in the King Of Blaze's sig, "Montel Vontavious Porter" is on the opening screen.