Import the logo into Freehand and use the 'Trace" tool. Double click on the trace tool icon and make adjustments to controll how Freehand "sees" the logo edges/colours etc. This method can be very successful or completely naf depending upon the original graphic. There is an Adobe  program called Streamline which has been around for a long time and is very good at doing this sort of tracing. I don't think there's a quick way - you will always have some cleaning up to do even with the best traced results.

Another way - -depending how complex your logo - - create a clipping path in Photoshop and Use the Export paths to Illustrator. Photoshop will create a ,ai file - Open up in Ilustrator and Modify the paths.

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If your photo is very detailed try using Flash to auto trace. I think you'll be amazed at the control and quality of the results. I learned of this technique in another forum and love the results. I like it better than Freehand and Illustrator auto-trace tool.