concession
con·ces·sion / kənˈseshən/ • n. 1. a thing that is granted, esp. in response to demands; a thing conceded. ∎ the action of conceding, granting, or yielding something. ∎ (a concession to) a gesture, esp. a token one, made in recognition of a demand or prevailing standard: her only concession to fashion was her ornate silver ring.2. a preferential allowance or rate given by an organization: tax concessions.3. the right to use land or other property for a specified purpose, granted by a government, company, or other controlling body: new logging concessions. ∎ a commercial operation within the premises of a larger concern, typically selling refreshments. ∎ Can. a piece of land into which surveyed land is divided, itself further divided into lots.
