Amends the federal criminal code to: (1) modify the definition of "traffic" for purposes of provisions prohibiting trafficking in counterfeit goods or services to mean to transport, transfer, or otherwise dispose of counterfeit goods or services to another for purposes of commercial advantage or private financial gain, or to make, import, export, obtain control of, or possess counterfeit goods or services with the intent to so dispose of them; and (2) define "financial gain" to include the receipt, or expected receipt, of anything of value.

Makes conforming changes to the definition of "traffic" for purposes of provisions prohibiting the unauthorized fixation of and trafficking in sound recordings and music videos of live musical performances or trafficking in counterfeit labels for phonorecords, copies of computer programs or computer program documentation or packaging, copies of motion pictures or other audio visual works, or counterfeit computer program documentation or packaging.

Amends the federal criminal code to: (1) modify the definition of "traffic" for purposes of provisions prohibiting trafficking in counterfeit goods or services to mean to transport, transfer, or otherwise dispose of counterfeit goods or services to another for purposes of commercial advantage or private financial gain, or to make, import, export, obtain control of, or possess counterfeit goods or services with the intent to so dispose of them; and (2) define "financial gain" to include the receipt, or expected receipt, of anything of value.

Makes conforming changes to the definition of "traffic" for purposes of provisions prohibiting the unauthorized fixation of and trafficking in sound recordings and music videos of live musical performances or trafficking in counterfeit labels for phonorecords, copies of computer programs or computer program documentation or packaging, copies of motion pictures or other audio visual works, or counterfeit computer program documentation or packaging.

Protecting American Goods and Services Act of 2005 - Amends the Federal criminal code to prohibit: (1) intentionally trafficking, or attempting to traffic, in goods or services and knowingly using a counterfeit mark on or in connection with such goods or services; and (2) possessing goods with a counterfeit mark with intent to traffic such goods. Provides for enhanced penalties in the case of subsequent offenses.

Prohibits intentionally transporting goods bearing a counterfeit mark or copies or phonorecords of a copyrighted work not authorized by the copyright holder into or out of the United States for purposes of commercial advantage or private financial gain.