An 'Untitled' label is just what it sounds like...the major difference between an 'Untitled' and 'Stock' label: the 'Stock' label probably never went into production, so we really don't have a brand name to use as a reference.  But if that 'Stock' image did make into production (was sold and branded) we would now have a reference name to associate with that image.  Instead of 'Stock_Indian Chief', we would now call it 'Untitled Absaraka', even though there is no visible brand.  Still a little confusing...read on.

The image above is a great example of an 'Untitled' label (and a perfect example for the 'Versions' group as well).  If there wasn't proof that this label had gone into production...it would be described as just a 'Stock' label. The more common name for this uncommon label is "Absaraka".  The sales sample brand for this image "Pa-Tux-Et Chief" never made it to the stores. Two more versions of Absaraka are "Dictator" and "Kempf's Big Chief"

The label pictured above would be referred to as "Untitled Absaraka" because it was the first title used in the production of the above 'Stock' label.  "Dictator" and "Kempf's" would be considered 'Versions' of "Absaraka".  There are a few collectors though, that say the 'Sample' label was first, so they refer to this 'Stock' image as "UT Pa-Tux-Et Chief" and all of the following titles would be Versions' of the 'Sample'.  Your Call...

Side Note:
Many European Inner labels are not branded.  The outer usually has the brand name, so identifying the inner is tough if the outer didn't accompany it.  Just because there is no brand name on a Euro Inner, doesn't mean it did not go into production.  Because of this fact, European Inner labels, for the most part, would not be categorized as 'Stock' images just because there is no brand name but as 'Untitled'.  Here is an example.