Hi John, I tried both double & single quotes but OpenERP is saying "Invalid database name".

Are you trying to duplicate from the Manage Database? Sorry I did not catch that earlier, but from that menu you can only use names that starts not with numbers and does not contain capital letters. You can later rename it using PostgreSQL's tools.

I had tried by creating new as well as duplicating. Both times I was getting error of invalid database name. I will try by replacing it directly in PostgreSQL.

Yes for both creating and duplicating database from Manage Database you need to specify name that does not start with number and does not contain capital letters.