Buchwald noted that a company cannot trademark a product name that is the same as the product. So, a company could not trademark "beer" as the name of a beer brand. However, a company can trademark an unrelated word as the product name.
For instance, Buchwald said Apple can trademark its name because it is selling computers and not fruit.
"In the same way," he said, "America has nothing to do with beer. So, they could probably obtain a trademark registration for it, if they wanted to."
Buchwald noted that so long as the company did not geographically mislead consumers — by calling the brand America and not producing the product in America — or confuse consumers — by having a name too similar to another brand — it would likely be granted the trademark rights.
Of course, the company is probably better off not filing the trademark, as it only plans on using "America" for a limited time and would have to abandon all trademark rights to the word once its marketing campaign concluded.
"It doesn't make sense for them to trademark [America] if they really don't intend to get rid of their Budweiser trademark and of course they aren't going to do that, it's too valuable," Buchwald said.
Anheuser-Busch did not immediately respond to CNBC's request for comment.