It will be interesting to me to see how the passing of the torch takes place. As BG42EDGE suggested, the logo may stay the same. I think of Buck knives as something like Rolls Royce in a different context. Rolls Royce was started by a Charles Rolls and a Henry Royce. Rolls passed away in 1910 and Royce in 1933. (Both were working on motorcars up to the end.) Yet the name and the logo live on even though the company has changed hands many times. Todays cars bear no resemblance whatsoever to the original cars made by Rolls and Royce.
However, in the earlier craft trades as in early America, the torch would be passed in a different way. If a master craftsman Mr. Browne operated a glassworks, for example, he would train an apprentice (Mr. Hart for example) to take over the craft when he retired. The trade would then be referred to as Browne & Hart, even though Mr. Brown might not be involved in the production any longer. When Mr. Hart passed the shop on to an apprentice, Mr. Jones, it would be referred to as Browne, Hart & Jones Glassworks. If the business sold entirely, it would be known as Brown, Hart & Jones, even though none of them were still involved. But the adding of a new name otherwise meant that a new master craftsman was at work.
It will be interesting, as I said, to see how this one plays out.
