Spot colors are "named tints" that the printer or post-processors recognizes.
Spot colors are used, for example, to paint with "varnish" or specific "gold" tint, but to recognize "cutlines" too.
An spot color has, basically:
A name (i.e. "MyGoldSC")
A tint ( 0 to 1 ): similar to the values of a C, M, Y o K that tells to the printer how mutch of the tint must be used
An alternate color: It is the color used when the device doesn't recognize the spotcolor (i.e.: When PDF must be rendered on screen by acrobat reader, ilustrator, inkscape, ...)
Reference
Specifications can be found under "PDF Reference 1.7" > "4.5.5 Special Color Spaces" > "Separation Color Spaces"
Why
Spot colors are "named tints" that the printer or post-processors recognizes. Spot colors are used, for example, to paint with "varnish" or specific "gold" tint, but to recognize "cutlines" too.
An spot color has, basically:
Reference
Specifications can be found under "PDF Reference 1.7" > "4.5.5 Special Color Spaces" > "Separation Color Spaces"
An example of codification
How to use?
A possibility: