I would prefer the words to be legible as in your last option - but the contrast need not be that great - perhaps using a bold for yaletown design would be sufficient. A lot depends on the familiarity of the word yaletown ..oh I just realized the other word is 'software'!
If you keep using it people will definitely recognize it. How about slanting the whole thing say at 5 degrees (as much as the italic tilt) - that would make it even more unique.

Check the UNIQLO logo which is on two lines - I do not know what it means but it is instantly recognizable.




