A logo must be:
*Distinctive/Recognizable. You can't just rip off another person's idea. If your new soda's logo looks like Pepsi's logo, any advertising for your soda will be associated with Pepsi. The well-established brand always wins. (And copyright issues?). Plus, you want to be creative and distinguish your product from the other products available. Oh that soda with the crazy cool turtle logo? Love it!
*Clean/Crisp/Simple. A log can't be messy, with jagged lines and randomness. Because of it's potential wide use, it has to be stream-lined. Concise, if that word can be applied to a graphic.
*Relate to your product/company. You may have the best flower design for your logo, but if the subject is monster trucks...that doesn't really make sense. Unless the monster truck rally is called flower stomp or something.
To end this little logo assignment, here is a picture of the FedEx logo. Very recognizable (because it has the name in it) and secretly clever. Did you ever notice the arrow between the E and the x? I didn't until now!

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