Pantone Inc. is a corporation known for its Pantone Matching System (PMS), a proprietary color space used in a variety of places. The Pantone Color Matching System is largely a standardized color reproduction system. By standardizing the colors, different manufacturers in different locations can all refer to the Pantone system to make sure colors match without direct contact with one another.
The idea behind the PMS is to allow designers to "color match" specific colors when a design enters production stage, regardless of the equipment used to produce the color. This system has been widely adopted by graphic designers and reproduction and printing houses. Pantone recommends that PMS Color Guides be purchased annually, as their inks become yellowish over time. Color variance also occurs within editions based on the paper stock used (coated, matte or uncoated), while interedition color variance occurs when there are changes to the specific paper stock used.
via Wikipedia