In the context of commissioning a piece of artistic work, what does the phrase "50% premium" mean?
Sentence for context:
Would a 50% premium be OK to include a transfer of IP rights for said art piece?
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3My guess would be that they are offering half the purchase price for the right to the Intellectual Property. So if the painting asking price was $200. They would be offering $300 to buy the painting plus the rights to the IP.– JimAug 9, 2012 at 5:01
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@Jim, that's what I was thinking but I wasn't exactly sure. But seeing as I'm not alone in my thoughts I'll either delete this or if you post it as an answer, accept it.– ardentAug 9, 2012 at 6:12
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Jim's comment plus a citation would make a good answer.– MetaEdAug 9, 2012 at 6:30
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@ardentsonata Why would you delete it? The whole point of Stack Exchange is to accumulate questions and answers that will be useful to lots more people in the future. Deleting your question just because you've already received a satisfactory answer seems selfish to me.– user16269Aug 9, 2012 at 8:05
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You have found a satisfactory and reasonably authentic answer, you can post it yourself as well.– KrisAug 9, 2012 at 10:58
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1 Answer
It means that the price is increased by half the original asking price. If the asking price without IP rights is $100, the price with the rights is:
$100 + ($100 * 50%) = $150.
