To be a sporicide means you can eliminate spores to a certain level.  That level achieved and the methods that must be used to achieve that benchmark level of kill are defined by the regulatory body of a particular region (ex. Health Canada, the EPA).
In Canada to be officially considered a sporicide a product must be able to achieve a 6 log reduction of spores.  In other words, when used according to the directions of the product you are able to reduce the number of spores present by 99.9999%.  For more information on the rules that apply please go to: http://www.hc-sc.gc.ca/dhp-mps/prodpharma/applic-demande/guide-ld/disinfect-desinfect/notice_faq_disinfec_avis_faq-eng.php
Decreasing order of resistance of microorganisms to disinfection and sterilization and the level of disinfection or sterilization
Modified from Russell and Favero.13, 344