Scripting Reference
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Transform.TransformPoint

function TransformPoint (position : Vector3) : Vector3

Description

Transforms position from local space to world space.

Note that the returned position is affected by scale. Use Transform.TransformDirection if you are dealing with directions.

JavaScript 
    // You need to assign an object to this variable in the inspector
    var someObject : GameObject;
    // Instantiate an object to the right of the current object
    var thePosition = transform.TransformPoint(Vector3.right * 2);
    Instantiate(someObject, thePosition, someObject.transform.rotation);
using UnityEngine;
using System.Collections;

public class example : MonoBehaviour {
    public GameObject someObject;
    public Vector3 thePosition = transform.TransformPoint(Vector3.right * 2);
    void Example() {
        Instantiate(someObject, thePosition, someObject.transform.rotation) as GameObject;
    }
}
import UnityEngine
import System.Collections

class example(MonoBehaviour):

    public someObject as GameObject

    public thePosition as Vector3 = transform.TransformPoint((Vector3.right * 2))

    def Example():
        (Instantiate(someObject, thePosition, someObject.transform.rotation) as GameObject)

function TransformPoint (x : float, y : float, z : float) : Vector3

Description

Transforms the position x, y, z from local space to world space.

Note that the returned position is affected by scale. Use Transform.TransformDirection if you are dealing with directions.

JavaScript 
    // You need to assign an object to this variable in the inspector
    var someObject : GameObject;
    // Instantiate an object to the right of the current object
    thePosition = transform.TransformPoint(2, 0, 0);
    Instantiate(someObject, thePosition, someObject.transform.rotation);
using UnityEngine;
using System.Collections;

public class example : MonoBehaviour {
    public GameObject someObject;
    void Example() {
        thePosition = transform.TransformPoint(2, 0, 0);
        Instantiate(someObject, thePosition, someObject.transform.rotation) as GameObject;
    }
}
import UnityEngine
import System.Collections

class example(MonoBehaviour):

    public someObject as GameObject

    def Example():
        thePosition = transform.TransformPoint(2, 0, 0)
        (Instantiate(someObject, thePosition, someObject.transform.rotation) as GameObject)