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    con·ces·sion
    [kənˈseSHən]
    noun
    concession (noun) · concessions (plural noun)
    1. a thing that is granted, especially in response to demands; a thing conceded:
      "the strikers returned to work having won some concessions"
    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"
    Origin
    late Middle English: from Latin concessio(n-), from the verb concedere (see concede).
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