Ten Steps to a Great Logo!

Logotype: (shortened logo) is a graphic representation or symbol of a company name, trademark, abbreviation, etc., often uniquely designed for ready recognition. (Websters dictionary)
A Strong corporate identity gives your organization a unique face in a crowded marketplace. Since the organization's logo is at the core of any corporate identity program, here are 10 tips for creating a great one.

Design your logo as a combination mark: include both the company name and separate emblem or insignia. With separate text and graphic elements, a combination mark permits a greater range of expression. In this example, note the interchangeable emblem and name.
Create a customized font for the logo. First choose an off-the-shelf font that best expresses the personality you want your company to project. Then systematically alter the shapes of the letters to create a customized font style.
The insignia should communicate a core idea or message. If possible, base its design on an icon or pictography that is a recognized symbol of the core idea or message you want to communicate. This can be something intangible, like a brand trait, or something tangible, such as the products you sell.
Keep the design simple but unique. These shapes take less time to register in the viewer's mind making them more memorable.
Make your logo scalable so it looks just as good on a business card as it does on a banner. Avoid the use of very fine details that won't be visible or will get muddled when the logo is displayed at its smallest size.

Use only one or two colours and select them carefully. This will make your logo more memorable and less costly to reproduce. Specify spot colours such as PMS (Pantone Matching System) colours for high fidelity across all media. Choose colours and colour combinations that have the emotional, social or cultural associations that suit your company's image.
The logo should work equally well when represented in black and white or colour. Avoid subtle colour variations; they won't show up well, even in high-resolution grayscale images, and definitely not on faxes.
Include a tag line - a company slogan that is "tagged" to the logo. Make it short, catchy and meaningful.
Leave a place for descriptors. If your organization has different divisions, product categories or business units, you may want to design your logo with a placeholder for these descriptors. Positioning a descriptor to replace the tag line, will keep the logo from becoming too wordy.
Establish specifications and usage guidelines for your logo. Mechanical specifications for allowable sizes, proportions and colours, as well as guidelines on where and how the logo should be used, helps ensure consistency of appearance and quality for both internal and public communications.