noun

1. an act or instance of conceding, granting, or yielding
2. a thing conceded or granted; acknowledgment, as of an argument or claim
3. a privilege granted by a government, company, etc.; esp.,
   1. the right to use land, as for a specific purpose
   2. Cdn. a government grant of land forming a subdivision of a township
   3. ☆ the right or a lease to engage in a certain activity for profit on the lessor's premises a refreshment or parking concession
   4. ☆ the land, space, etc. so granted or leased

Etymology: ME & OFr < L concessio < concessus, pp. of concedere