MalformedURLException when requesting a URL

I am creating a class, wherein I am planning to combine the properties and methods required to request some content from a URL, but I am getting a MalformedURL exception when I am initializing the variable itself. I am not requesting to access the URL just initializing the variable with the URL. I don't understand what is wrong with this statement

public class Settings
    static final URL logo = new URL("");
    // and other static final stuff...

that it generates an exception as 

Thrown to indicate that a malformed URL has occurred. Either no legal protocol could be found in a specification string or the string could not be parsed.

Please explain to me what I am expected to add to my code here.