Fonts and business logos

[splatterhouse.livejournal.com]

When choosing a font for your business logo did you draw something from scratch or pay for a license fee for a pre-made font?

Also, what should I be looking for in a license when choosing a font for this purpose in order to comply with copyright? Are there any specific terms or phrases I should be looking for? I know the obvious basics, I'm more looking for pitfalls & things that may not be immediately obvious. I dearly do not want this coming back to bite me in the ass.

I'm going to be launching a small business soon & I hung up my artist's hat years ago so I'd greatly prefer to buy a license over drawing a logo myself. I'd love to hear any experiences & information you have to share.