I have seen many of the logos or various items sold at flea markets and Trade Fairs and yes, the people can get into trouble selling them. The Walt Disney Company is particularly sensitive about their characters and I wouldn't attempt to sell anything with a Walt Disney character.
I noticed on my CompuCarve TM box that Sears has applied for a trademark for the name CompuCarve TM so it will soon be illegal to use that name on any products.
TM indicates that they have applied for a trademark ® indicates that they have a registered trademark.
Colleges especially A&M and Texas are sensitive about their logos too. No one says you can't use them...just don't sell them.