Nike's (NYSE: NKE) "swoosh" logo is incredibly powerful and captures the essense of the company. Interestingly enough, back in 1971 Carolyn Davidson designed the logo for a mere $35 (for more stories about logos, check out the LogoBlog).

So of course, your company's logo is critical -- in terms of branding, getting customers, and presenting the right image. And, the good news is that there are many affordable options to get a top-notch one.

Footwear manufacturer Pony is suing much larger (and presumably richer) foe Nike (NYSE: NKE). Pony contends that Nike has infringed on its "iconic logo" (look familiar?) in Nike's new "V for Victory" soccer advertising campaign.

Pony contends that the chevron seen on the player's chests is far too close to its chevron-based logo, which the company has used for 35 years.

Pony stated, "The key distinguishing feature of the [Nike] campaign is the use of a chevron mark, which is identical or virtually identical to the registered trademarks owned by Pony."

Does Pony have a point? Yes, but I have some problems I feel I should address here. First, I am no legal or design expert, but isn't Pony's original chevron logo a bit similar to Nike's iconic swoosh?

This post is one in a series on prominent company nicknames. See all 25, and share your thoughts and memories about the Peacock Network below in the comments.

Perhaps more visually recognizable than any other television symbol today, NBC's colorful peacock logo and nickname encompass far more depth and history than simply having been a tool of recognition for NBC Television, subsidiary of General Electric Co. (NYSE: GE). Beyond simply identifying network programs in the age when NBC and CBS began applying the color palette to broadcast television, NBC's peacock was charged with the awesome task of informing and convincing the parents of the baby boomer generation that color television had arrived, it was good, and they wanted it. The peacock was assigned the monumental task of engaging the public. Indeed, it has performed that job to perfection.

I grew up fully addicted to television, and NBC's peacock long heralded the appearance of many of my favorite shows. Bonanza, NBC's first serious success in color broadcast television, was a weekly treat for me, as it was for millions of other enchanted TV viewers. Accordingly, by the time color television promotion had begun to move consumers to purchase the new color television sets, which sold for approximately $1,000 initially, the NBC peacock, which had begun its glorious life as a simple static image, learned how to fan its tail feathers in a motion indicative of the sweeping changes the television age would come to initiate.

Until man orbited the earth, television was perhaps the single greatest technological achievement since Henry Ford had put automobiles into mass production. Since the coming of color television in 1956, the NBC peacock has been a television communications fixture, and NBC television is respectfully referred to as "The Peacock Network" by people and publications throughout the industry. It can be said that very few other company logos have stood as representative for changes that have affected so many people, so very deeply, for such a long time.

Recently, FedEx Corporation (NYSE: FDX) ditched the Kinko's brand name for its stores -- and took a $891 million charge against earnings. Instead, the new name will be FedEx Office.

While the Kinko's brand was powerful, it was not enough for the broad services offered by FedEx. What's more, I'm sure FedEx spent millions on coming up with its new branding strategy.

It's a good lesson -- and something to consider for your own business. In other words, does your logo help or perhaps hurt your efforts?