I tackle both these possibilities in my essay. The main newspaper sources which Dylan used both spell Zantzinger's name correctly, so that can't be it. If it was supposed to be a ploy which Dylan thought would shield him from legal action, then it's a laughably naive one. Given all the other details Dylan sets out in the song, who else were listeners supposed to think he was singing about?

It's interesting also that the first published version of Dylan's lyrics that we have (those from Broadside's April 1964 edition) spell Zantzinger's name with a "t" too. I'd love to know whether Dylan had it spelt that way in the lyrics he submitted or whether some helpful Broadside staffer "corrected" his spelling while preparing the magazine for press. You can see the Broadside lyrics here.