Make Scan into Vector (Digitizing Logo)

Hey guys, my company is asking me to 'digitize' their old logo, and the logo is literally the company's name with a small graphic attached to one of the letters that encompasses another letter. I'd have no problem digitizing it if it werent for the small graphic. We have a master copy on file. When I try and scan on the HP 8600 at high res it is still pixelated and blurry looking. Is there anyway I can make this freehand? It doesn't seem like it would be that hard, but I'm really between a rock and a hard place. Any help would be appreciated. Thank you so much.

[IMG]http://i58.tinypic.com/9lbwpu.jpg[/IMG]