Neither side will have a career without the Queensryche name. I'm sorry, but that's just reality. If Geoff loses (which he should in trial), his name will have little weight whatsoever in the marketplace. If the guys lose, whatever name they'd continue under as a band would be a complete reboot of their careers, which at 50+, is very unlikely to be successful.
So the wise course of action in my opinion is, for both sides, is to scrap and fight tooth and nail to retain the name. If I was Geoff's lawyer, I'd do whatever possible to get the name. And if I was Osinski, I'd counsel Michael, Ed and Scott the same thing. Yeah, if you win the QR name, you have to buy Geoff (or if Geoff wins, he has to buy out Michael, Ed and Scott) out. But you retain a brand that can be rebuilt (if it's M-E-S that wins, Geoff will just continue to milk Mindcrime if he wins, IMO).
Sure rebuilding a brand in your 50s is tough. But at least you're not starting from scratch. There is a built-in audience that wouldn't otherwise be there. And promoters are familiar with "Queensryche." So the goal, for both sides, at all costs, should be to retain "Queensryche." Anything less is beyond stupid and short-sighted thinking.