A normal point light does not target an object, but illuminates everything around it. Point lights can be used for general lighting effects and simulate lighting sources such as candles and light bulbs.
A target point light has additional target properties so it can be directed to an object. It can also be created from a point light by changing the Targeted property of the point light from No to Yes.
In the standard lighting workflow, you can set a point light manually so its intensity diminishes with respect to distance either linearly, according to the inverse square of the distance, or not at all. By default, the attenuation is set to None.
A point light can have photometric distribution properties. The attenuation for a photometric point light is always set to inverse square.
When the LIGHTINGUNITS system variable is set to 1 (American units) or 2 (International SI units) for photometric lighting, additional properties are available for a point light. The following photometric properties can be set via the Properties palette:
When the drawing lighting units are photometric, the attenuation type property becomes disabled. Photometric lights have fixed, inverse-square attenuation.
The following image is an example of a photometric point light with the photometric properties outlined on the Properties palette: