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"Contests" are bad for the design industry. Any designer who participates in these contests is only contributing to the problem.
Any credible company looking for a logo design should research a design firm's portfolio and then work with them to ensure that a design is created that satisfies the client.
It is unfair business practise to ask designers to invest time and money into creating designs with no assurance that they will get paid.
Do you think it would be reasonable to approach several custom car builders and ask them to each build a car and you will then purchase the one that you prefer? No, you would not. Graphic design is no different.
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