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I say it every time, I am astounded the Tolkien estate allowed the use of the word Palantir...
What makes you think they did?
If the Tolkien estate has a trademark on that word it doesn’t stop a company in an entirely different field to name their company that word. Owning a trademark doesn’t mean you own all the usage rights of that word. You only have the rights in a specific category.
So, if an arms manufacturer creates a functional Iron Man suit, is nothing stopping them from calling it Iron Man? I assume they wouldn't be allowed to make it look exactly like the Marvel character, but comic books and the MIC are certainly in different fields...