You need to turn in a company proposal before designing your logo.
An introduction to logo design and company branding (from Lynda.com):
7 Characteristics of a great brand: 1. Emotional: authentic emotion 2. Entertaining 3. Experiential: some form of unexpected experience 4. Novel: new and different 5. Story based: we understand stories 6. Authentic: to the brand and to the consumer 7. Risky: big ideas are a bit scary