Abstract logos are the most practical of any type of logo. Not only does it often result in a truly unique, powerful logo but it also gives the company the freedom to expand it's operations to include other products (or even switch to selling something completely different) without having to change the logo.
It's important to remember that the logo image does not have to function like an "About Us" page... a logo is a signature. It's a unique identifier for the company. That's it. If it does that part well, then it's a great logo. Think Nike. There's a reason why big companies usually opt for abstract logos, so if you're considering an abstract logo, you're on the right track.