committee, commission (noun)

a special group delegated to consider some matter

"a committee is a group that keeps minutes and loses hours" - Milton Berle

commission (noun)

a fee for services rendered based on a percentage of an amount received or collected or agreed to be paid (as distinguished from a salary)

"he works on commission"

commission, commissioning (noun)

the act of granting authority to undertake certain functions

commission (noun)

the state of being in good working order and ready for operation

"put the ships into commission"; "the motor was out of commission"

deputation, commission, delegation, delegacy, mission (noun)

a group of representatives or delegates

commission, charge, direction (noun)

a formal statement of a command or injunction to do something

"the judge's charge to the jury"

commission, military commission (noun)

an official document issued by a government and conferring on the recipient the rank of an officer in the armed forces

perpetration, commission, committal (noun)

the act of committing a crime

mission, charge, commission (verb)

a special assignment that is given to a person or group

"a confidential mission to London"; "his charge was deliver a message"

commission (verb)

put into commission; equip for service; of ships

commission (verb)

place an order for

commission (verb)

charge with a task

commission (Noun)

A sending or mission (to do or accomplish something).

commission (Noun)

An official charge or authority to do something, often used of military officers.

commission (Noun)

A body or group of people, officially tasked with carrying out a particular function. Eg: The European Commission, The Electoral Commission, The Federal Communications Commission.

commission (Noun)

A fee charged by an agent or broker for carrying out a transaction. Eg: Reseller commission, Finder's fee.

commission (Noun)

the act of committing (e.g. a crime)

commission (Noun)

The name of a service provided to validate the completeness and accuracy of a project or venture.

commission (Verb)

To send or officially charge someone or some group to do something.

commission (Verb)

To place an order for (often piece of art); as, commission a portrait.

commission (Verb)

To put into active service; as, commission a ship.

Commission

The payment of commission as remuneration for services rendered or products sold is a common way to reward sales people. Payments often will be calculated on the basis of a percentage of the goods sold. This is a way for firms to solve the principal–agent problem, by attempting to realign employees' interests with those of the firm. One of the most common means of attempting to align principal and agent interests is to design a contract with incentives that track agent performance. The principal–agent theory provides an explanation for the dissimilarities across the marketing firms in the types of compensation plans used by them, such as fixed salary, straight commission or a combination of both fixed salary and straight commissions. Although many types of commission systems exist, a common form is known as On Target Earnings, where commission rates are based on the achievement of specific targets that have been agreed upon between management and the salesperson. Commissions are intended to create a strong incentive for employees to invest maximum effort into their work. Note that often a firm embracing a commission structure may not involve employees, but may solely establish themselves using independent contractors. An example of this in the USA could be a real estate agent.