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What makes a good logo?

A logo is the symbol or trademark of a company. Logo design is one of the important parts of graphic design. A logo gives graphical and pictorial representation of a business.
 

When establishing a business, the first thing a company should consider is the logo design. The logo should be designed according to the name of the company and the business product.
 

A logo is said to be good logo if it has following features:

1. Firstly a logo should be eye catching and simple.
2. Simple color pattern and short text should be used.
3. A logo must be strongly relevant to the business nature.
4. It can be abstract or realistic.
5. A logo designed with limited colors works more successfully.
6. A logo must be able to convey a company’s mission and service.
7. A good logo builds your brand and gives more professional look to your business.
8. A good logo design should also works well in black and white. Colors are not that much important in a good logo design.
9. If a logo does not look good in black and white, it won't look good in any color.
10. It is better if you avoid being too 'modern'. A trendy look might work now but fashions change.
11. A logo of your company should be unique and be timeless for sustained business growth.

References
http://www.businesstoolchest.com/articles/data/20031209025648.shtml
http://www.teachingonline.org/Logodesign.html
http://www.smallbusinessbible.org/whatpurpose_logodesign.html.