A water mark is a barely visible image or text that is usually added to a document or an object to show its authenticity or to prevent someone from copying or altering it without permission. Full definition
That figure alone would be comparable to the current high water mark for a corporate penalty on a large national or multinational corporation for a serious event. (mathewsdinsdale.com)
A reputable money manager should always have a permanent high water mark for performance fees so that situation can not arise. (burgundyasset.com)
While the law marked a high water mark of federal control over K - 12 education, it was still, relatively speaking, not far from the ocean floor. (newrepublic.com)