I need to kern the text so that it properly aligns with the template. To kern text, place the cursor between two characters then set the kerning in the Character panel. In the same way, continue to kern the rest of the text.
I'm done! I now have a logo that is partially traced with added text, plus the other two logos that I re-created earlier; using Live trace and using a template layer for tracing manually. It's nice to know different ways of re-creating a logo, since how you choose to re-create a logo may depend on time constraints, quality standards, and whether or not you have a matching font.
