I
think I know what you mean, but I don't think there is a one-click solution, like simply selecting a layer blend mode. You may have to do some manual touch-up on those edges. Another option is to experiment with the "Blend If" slider settings at the top level of Layer Effects.
Actually, the real answer is that you'd be best off obtaining a vector copy of the logo. Although a vector copy might not seem readily available, just about every logo in existence was initially created in vectors, and exists in vectors, somewhere. Often you can get them from various online sources, like
http://www.allfreelogo.com/. Other times you might have to go to the company's web site and mine it for PDF documents, (financial reports, press releases, brochures, etc.), that contain vector logo graphics.
John M:
All of the vim with none of that annoying vigor.
