Well I guess there's criteria for the process (quick, cheap, responsive etc) and criteria for the logo. Typically important reqs would be that it uniquely identifies your brand values/mission, that it 'reads', works well in all sizes (pixel and vector), works well in colour and mono - so I couldn't really say much based on this. Obviously you can't hate it but personally I'd be almost trying to push my taste out of the equation as far as possible and instead focus on a functional list of measurable criteria related to my venture. For the 1% left that is taste/magic/pixie dust, I'd defer that to the designer on the assumption they are highly visually literate and spend all day thinking about it. (I say that having once been an art student so quite a difficult temptation to resist but nobody does their best work with a back-seat driver.)