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Pantone is a color system - or color space - that is used by a variety of industries. It began back in the 1950s as a commercial print company that dealt with the production of colored inks and pigments. Eventually, Pantone grew into a large and very successful company, now the industry standard for design. Today there are over 2,000 official Pantone colors.
Pantone is typically a default for printing, but is also common in the production of paints, fabrics and plastics. Chances are, any mass-production of printwork you have seen has used the Pantone Matching System, or PMS. The concept behind Pantone's color matching system was to create a standard swatch set of colors that would allow colors to be true to life, regardless of the original system on which it was produced.