I think the naming of the party should be carefully decided based on the political landscape of your country. If you have a Labour and Conservative party, why not a Liberal party?
In Australia, we have Liberal, Labor and Greens. The libertarian party is called "Liberty and Democracy Party." It's too long, and it should be called the Freedom Party.
By the way, I mean "classical liberal," not the modern corrupted sense of the word. Australia's Liberal Party is centre-right.