Cambridge University is quite within its rights to protect the name CAMBRIDGE and its reputation but how far the monopoly should go can be a fine line which is what this BBC article looks at.
Blocking use or registration by other institutions in the educational field is likely to be justified given what the University is well-known and protected for. On the other hand, if you are a company offering dental services or producing gin then realistically there isn’t going to be any harm done or an objection from the University.
There is, however, a grey area when the activities are not as black and white. Whether or not the University can rightly prevent the use or registration of the name CAMBRIDGE depends very much on what the public associates it with and how far its monopoly and reputation can extend to those areas.