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Did the character's name change from the book to the movie? To me if something is based on a true story, then the characters are the same.
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The movie was based on the real life experiences of Chris Gardner. The names of the protagonist and his son did not change. So, if what you are saying is true, then the movie should have said, "Based on a true story."
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If is is inspired by a true story, then the plot in similar, but they have changed names and the actors have more freedom in developing the character however they interpret them.
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The names were not altered. I'm sure events and circumstances were altered because not all true-life films are entirely true. Which makes this all the more confusing. I honestly believe that "based" and "inspired" mean the same thing- it's just a matter of how the film's producers wish to entitle it.