It is typical in logo design that an inverted/reversed version of the logo is provided in order to cater for use on opposing (darker/lighter) background than the normal predominant logo colour.
Is there a "generally accepted" technique in place for selecting the inverted/reversed colours? If it helps, you can assume I'm dealing with a logo that has defined Pantone colours.
Is it simply a case of "take a guess" using nothing but eyeballs or is there a more structured methodology I could follow?
Yes and no.
Always supply a version of the logo for use on dark backgrounds and a version for use on light backgrounds. But that doesn't necessarily mean inverting the colors.
If the brand colors include a range of colors, some dark and some light then obviously you can use those for different versions of the logo, no need to extrapolate different colors.
If that isn't the case then it's perfectly fine to supply one color version and then monochrome versions: one black and one whiteâ€”for use on light and dark backgrounds respectively.
If you want to create a version of the logo with inverted or any other colors, that's fine. But don't think you need to do that. One thing I wouldn't do is simply invert the colors. Use existing brand colors or lighter/brighter variations thereof.
In any case, agree all of this (preferably in the form of a contract) before any work starts.