The best designs are selected by an international panel of judges -- last year the panel was made up of 30 judges, including 10 graphic designers, 10 marketing managers for leading international brands, and 10 members of the public.
The judging process is designed to gauge logos' success from design, branding and layman's perspectives.
There are two strands: Wolda Professional, and Wolda Talent, which recognizes outstanding student projects.
Prizes are awarded for Best in World, Best in Continent, and Best in Nation.
Entering logos in the competition costs €88.80 (about £80) for the first logo, and €36 (about £32) for each subsequent logo. There are reduced rates for students entering Wolda Talent.
The deadline for entries is January 31. For more information visit the Wolda website.