Does anyone know the correct term? - Drill bit nomenclature.

[shieldcracker]

The cutting edge on a twist bit point is called LIP. The surface that extends beyond the lip to the flute behind is called FLANK.
So a FLANK has a cutting/leading edge (red) - LIP and a trailing edge called HEEL. Both LIPS and HEELS are formed by the intersection of a flute surface and a corresponding flank edge.

Assuming my Heel (blue) definition is correct, what would be the name for the edge (green) formed at the intersection of the FLANK and the LAND surfaces ?
Some sources indicate that the edge in question is also part of the heel and others do not. Either way this is all more confusing to me because the heel definitions I have found so far are ambiguous...

 

[5ubtle]

I'm no expert, but I think that what I've identified in blue below is the heel.

https://www.wellsindustrial.ca/Resources/Product%20specs/DRILL%20TERMINOLOGY.PDF

Not all things have a name. Would it be acceptable to just call it "the intersection of the flank and the land"?

 

[shieldcracker]

I'm no expert, but I think that what I've identified in blue below is the heel.

Not all things have a name. Would it be acceptable to just call it "the intersection of the flank and the land"?

You have a sharp eye, and that is another can of worms but I agree with your logic.
The lands on the drill bit do have a leading edge (red) and a trailing edge that run all the way to the point and meet at the flanks outer corners. Which means we have lips and heels for both, the point and the landings and the green edge name becomes trivial.

As a side note: I don't see a likeness to a lip when I look at the point but when I look at the landing's leading edge I definitely see a resemblance of a lip...