The importance of a logo design has been recognised a long time ago and some companies are willing to spend a vast amount of money for a memorable logo design. I worked with some of these companies, whilst working for an advertising agency in Oslo several years ago. As much as I liked my salary back then, I found the fees absurd! I do not think any branding job is worth what the likes of BP, PepsiCo and BBC have paid. Do you?
BP - British Petroleum. Replaced a logo they had used for over 70 years in 2000. Cost: €185,000,000.