Corporate Identity or Brand Name
The logo is a graphical representation of the company name and/or brand name and the foundation for corporate identity.
Each logo consists of a verbal element, the name, and symbol, it can also be just the name (e.g. Coca-Cola) with a recognisable characteristic typography of letters combined with distinctive colouring, typical for a company or brand.
The logo is the first contact with the target audience to which we intend to communicate. It is the presentation and identification of a company or brand. A logo is the "face" of the company, so the company must identify with it. With that help, a good symbol not only represents what the company wants to communicate, it represents the company's philosophy and is certainly not merely a decorative element or picture.
Due to market saturation with products and services, the creation of a logo should be very well thought out because in any given market this is the only way for a company to stand out from their competition.