Lets say someone has a company called "tictoc" and the name is registered to that person, but they do not own the domain name tictoc can some one not affiliated with that company register the name "tictoc.com" as a company name?

Yes. There are a ton of examples of this on the internet. Domain names are not legally related to registered company names.

I don't see how anyone can just walk in a register unless it was an open contract.......Blessings Yahoo