I am creating a logo and would like to use the Google Font 'Lato', can I use this font in my logo design or are there copyright/limitations I need to worry about? I can't find anything online other than that it is an open source font that can be used in anyway you want (maybe that's my answer but I just want to make sure). Also, is it a bad idea to use a web-based font for a logo?
it is an open source font that can be used in anyway you want
It is licensed under the OFL license.
The key bullet point for your needs is:
- Use: the freedom to use font software for any purpose
So, yes, you can use it in your logo.
Also, is it a bad idea to use a web-based font for a logo?
It's "web based" in that Google offers it as an embeddable web-font for web sites, but other than that, it's just a font. So there's nothing particularly 'web based' about the design itself.