concession
Definition 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.
Definition 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.
concession is in the Advertising, Marketing, & Sales and Negotiating & Conflict Resolution subjects.
concession appears in the definitions of the following terms: package deal, duty to bargain, countervailing duty, general strike, rules of engagement, quid pro quo, generalized system of preferences (GSP), reciprocity and good faith bargaining
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