It should be recognisable, either in a simplified but suitable variation, or in its whole state as a Favicon, a letterhead, business card embosse and standalone logo.
The logo can be provided as both an image and a word, as long as the image is suitable separately.
An example of where I like how this has been done is Ansible Tower: http://www.ansible.com/tower
I like the simplicity of the following designs:
I also like the cleverness of the following logos:
We currently have no branding defined, so any font is available for use, as long as it is suitably licencable.
'Atlas' can be written in any way, whether title-case, uppercase or lowercase.
I like the idea that the logo and the word 'Atlas' blend together as one, like it does in 'Locks' above. Perhaps the first 'A' could be an atlas of some sort.
This idea is by no means a favourite, just the first thought I had, and it may or may not win the competition. Be as creative as you like, but stick to the principles above, of simplicity and recognizability.
Some logos that I like: