Now YouTube provides us the option to remove their cute branding logo in the control bar of the YouTube video player. You just need to make a minor change.
At the end of the video URL in your embed code, just add the code ?modestbranding=1 and the player will show without the YouTube logo in the control bar.
Below I have embedded Cars 2 Trailer from Disney Pixar – Without and With Logo.
YouTube Video Player – Without Logo
YouTube Video Player – With Logo
Though they have the option to remove the logo, still there will be a small “YouTube” text label which will show up in the upper-right corner of a paused video when you hover over the player.