Every color has some kind of meaning behind it. While bright and bold colors can be more attention grabbing, they can also appear too energetic for some. Calm colors can portray a more enlightened appearance but can easily be overseen or unnoticeable. In short, colors are similar to the emotions and feelings that a person or a society experiences:
Red: Has a more dynamic feel. Can also imply aggression, passion, heat, energy and appetite. Lots of restaurants and fast-food places (e.g. McDonalds, Quizmos, Jack in the Box) tend to use this color for that reason.
Orange: Often associated with modern thinking and approach-ability. Is often used with schools, youth camps/activities, theme parks and other family-oriented things.
Yellow: Gives a warm, happy, friendly feel, but can also be used as a sign for caution/warnings. Is also often used for food-based industries as well as places like nursing homes, counselors, and shelters.
Green: Very popular among eco-friendly, organic, vegetarian/vegan, eastern medicine and health.
Blue: Very popular among well-known corporations. It indicates seriousness, professionalism, sincerity and calmness. Is often used with authority, colleges/universities, medical clinics, sales and other higher end companies.
Purple: Often associates with wealth and riches. Churches and other places of worship often pick purple as a color choice for their logo.
Black: Can be looked at 2 ways. It can imply power and worldliness or it can imply villainy and death. Either way, it is recommended in having a black and white version of your logo available in case you need to engrave it or have it processed in a way that can only be done with black and white.
White (had to make it gray, otherwise it wouldn’t be readable): Is often associated with purity, cleanness, and simplicity. If you want to have a white logo though, you will have to choose a color to place in the background, so it will appear visible. White tends to be more commonly used for the text of the logo rather than any shapes or backgrounds.
Brown: Often identifies with masculinity. Is mostly used for anything regarding sports, outdoor activities, landscaping, Do-It-Yourself, or constructing.
Pink: Often identifies with femininity. Doesn’t get used much if the company/product is not targeting just women/girls.
Of course, there are not any rules in picking your color(s) for you logo, but this is something I would recommend you think about. Logos won’t just get their overall interpretation based on color alone, but also how well they work with the shape and text that goes along with them.