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CRM product name change and product name history

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Hi!

Can't find any information on this, so I'm turning to CRM Community. 

Imagine a Product in CRM with Product ID and Product Name as usual. Time passes and the Product Name changes but Product ID stays the same. 

We can't have several Products with with the same ID (SKU). How should such situation be approached when a Product name changes? Product Name can be changed, that's easy. But what happens to history of Opportunities, Orders etc. where this product is included? For the closed Opportunities, Orders etc. it would be correct to keep the previous Product Name but for the new ones - the new Product Name. 

A good example would be some Microsoft products, e.g. Skype for Business, previously Lync and OCS before that. SKU is the same but the name changes. 

Or is the correct approach to keep SKU in a separate field from Product ID? 

Maybe there is a way to keep historical Product Name versions in CRM? 

Will appreciate any comments, ideas. Thanks in advance!


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