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In graphic design, there are five golden rules for logo type that serious designers must follow. A common mistake among amateur designers is substituting a letter in the logo with a symbol or graphic, which can lead to poor design choices. To illustrate this point, the tutorial references a British television show where aspiring business professionals compete to work with a notable tycoon. In one episode, teams created logos for a baby food company, and one team's design did not instill confidence in the product. This example emphasizes the importance of adhering to design principles to maintain professionalism in logo creation.