Food labels were once meant to make things perfectly clear, so we could make good food buying decisions. However, like most governmental regulations absolute rules become quickly obfuscated. The "per serving" is the thing to watch as many manufacturers make serving size humorously low to get a better rating.
"Low Fat" can mean there's up to 3 grams of fat per serving. "Fat Free" can have 0.5 grams and still count.
"Light" can mean a number of things, from the literal (the color) to the more concrete (50% the fat of plain-label), but it can also be used to mean simply "less" calories, without any actual figures. "Low Calorie," on the other hand, must have 40 calories or less per serving, and "Fewer Calories" actually means the product must have at least 25% less calories per serving.
The term "Light" used on package labeling has absolutely nothing to do with fat, sugar, or anything else. If a product "has been a long history of use of the term," then it can keep using it regardless of nutritional content.
Any product with "organic" on its packaging or display materials must contain at least 70 percent organic ingredients. "100 Percent Organic" products must show an ingredient list, the name and address of the handler (bottler, distributor, importer, manufacturer, packer, processor) of the finished product, and the name and seal of the organic certifier. These products should contain no chemicals, additives, synthetics, pesticides or genetically engineered substances.
"USDA Organic" products must contain at least 95 percent organic ingredients. The label must contain a list that identifies the organic, as well as the non-organic, ingredients in the product, and the name of the organic certifier.
"Made With Organic" products must contain at least 70 percent organic ingredients. The label must contain a list that identifies the organic, as well as the non-organic, ingredients in the product, along with the name of the organic certifier.