A big player in the stock photography industry, iStockphoto, recently announced it will be getting into the stock logo business in a few months. Using the service, clients will be able to browse a collection of logos submitted by designers and download one for between 100 and 750 iStock credits, the equivalent of roughly $140 to $750 based on the company's credit system. Designers, who can submit newly designed logos or work that had been rejected by past clients, will receive a 50 percent royalty fee. Those who create one of the first 10,000 approved logos will receive $5 each, if iStockphoto receives 10,000 submissions by a specific date.

Stock logos aren't a new concept. Plenty of sites, including Brandstack and Logopond, offer similar services. The new QuickBooks 2010 software, which I wrote about yesterday, even has a logo marketplace. Still, the announcement by iStockphoto, which is owned by Getty Images, has caused a stir among graphic designers, as evidenced by the response to the TechCrunch article on the new service. many of whom argue that designing a logo that effectively communicates a company's identity takes a good deal of research, design, and revision. Stock logos, many argue, are essentially icons with a company's name attached to them. Though iStockphoto plans to take any given logo off the market once it is downloaded, there is a possibility that designers could sell similar logos to other stock sites, rendering your company's identity less than unique.

What do you think? Is it worth spending a couple thousand dollars to work with a designer who will presumably create a logo more tailored to your company's image and message? Or is a stock logo good enough for your business? Let us know.

Plus: Read more about the stock logo debate in Ask Inc.