Retrieving a Territory name from a provided Lat & Long

I am having an issue in my VB application trying to retrieve the Territory Name of a given Latitude and Longitude. Is this possible, and if how should I go about doing this?

One solution could be retrieving geo information of your location (such as region, country or city, the same that you use to create the territory), and then compare it to the areas (region or country and so forth) inside each territory of yours.