concession

  

Definitions (2)

1. Commerce: Grant of exclusive privileges (such as to be the only seller of a good or service) by a government authority or by the owner of a singular property (such as an airport, amusement park, hotel) to a grantee. Also called a concessionaire, the grantee carries out a commercial undertaking (such as a restaurant), and pays a rent or a certain percentage of the sales or earnings to the grantor.

2. Negotiations: Yielding of a position, privilege, or right, by a party to induce the another party to respond similarly by yielding an equivalent position, right, or privilege.

News containing the term concession

Loading...



http://www.businessdictionary.com/definition/concession.html


Enter your email address to get our free Term of the Day newsletter!

Nearby Terms

Popular 'Advertising, Marketing, & Sales' Terms

Search volume for concession

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z