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List A is a list of products and details about each product. List B is a list of collateral that includes a lookup column refering to product names in list A.
One of the products in list A is getting rebranded; the product name is changing.
If I change that product name in list A Egs. From: "Alpha" To: "Zeta"
Will this automatically change the entries in List B to Zeta where Alpha was previously selected? or Will the Alpha data be retained in List B and cause issues?
Yes, it will automaticaly change according to the product name change.
When you use a lookup column, the ID of the product item is stored in the collateral field, so every time you display the collateral item it will get the product details using that ID and it will have the up to date product value.
