- The definition of concession is something granted in response to demands, or a special allowance, or is the right to use land or property granted by the owner.
- When you are negotiating and you give in to something that the other side wants, this is an example of a concession.
- If the government gives tax credits to special interest groups, the tax credits are an example of a concession.
- If a high school gives the sports booster club the right to sell snacks at a football game, this is an example of a concession.
- an act or instance of conceding, granting, or yielding
- a thing conceded or granted; acknowledgment, as of an argument or claim
- a privilege granted by a government, company, etc.; esp.,
- the right to use land, as for a specific purpose
- Cdn. a government grant of land forming a subdivision of a township
- ☆ the right or a lease to engage in a certain activity for profit on the lessor's premises: a refreshment or parking concession
- ☆ the land, space, etc. so granted or leased
Origin: Middle English and amp; Old French ; from Classical Latin concessio ; from concessus, past participle of concedere
Used by arrangement with John Wiley & Sons, Inc.
- The act of conceding.
- a. Something, such as a point previously claimed in argument, that is later conceded.b. An acknowledgment or admission.
- A grant of a tract of land made by a government or other controlling authority in return for stipulated services or a promise that the land will be used for a specific purpose.
- a. The privilege of maintaining a subsidiary business within certain premises.b. The space allotted for such a business.c. The business itself: had an ice-cream concession in the subway station.
Origin: Middle English, from Latin concessiō, concessiōn-, from concessus, past participle of concēdere, to concede; see concede.
- con·cesˈsion·al adjective
- con·cesˈsion·arˌy adjective
concession - Business Definition
- The dollar discount from a security's retail selling price received by members of an underwriting syndicate. For example, a syndicate member paying $995 for a bond to be sold at par (that is, at $1,000) is receiving a $5 concession. Also called selling concession.
- A discount or rebate from a contracted price.
- A contract to operate a subsidiary business. For example, the local civic club has a concession to operate a restaurant at the county fair.
- A government grant to use property for a specific purpose. For example, a private business has a concession to operate all nine lodges in Yellowstone National Park.