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Concession
01
a contractual agreement that grants a company or individual the right to operate a subsidiary business, such as a store or a kiosk, within the premises of another business or organization
Examples
The airport granted a concession to a coffee chain to open a kiosk in the terminal.
He owns the concession for the food court at the shopping mall.
02
something granted or yielded, often reluctantly, in response to a demand or pressure
Examples
The company made a concession on salary increases to resolve the labor dispute.
He offered a concession by agreeing to some of the terms in the contract.
Lexical Tree
concession
concede
