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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Sign up to join this communityIn 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?
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.