concede - definition in the Business English Dictionary - Cambridge Dictionaries Online

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English definition of “concede”

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concede

verb
 
 
/kənˈsiːd/
[T] to admit that something exists or is true, often unwillingly: concede that The chairman conceded that shareholders had been "impacted by the decline in market prices". The insurers ultimately conceded liability for repairing the damage to the car.
[T] to give something to someone, or allow them to have it, especially when you are unwilling to do so: Local government has been forced to concede some of its authority to larger, regionally based, units.
[I or T] to stop arguing, fighting, or competing against someone and admit that you have lost: After a recount of the votes, the candidate conceded defeat. Critics say he should have conceded right after the election. →  See also concession
(Definition of concede from the Cambridge Business English Dictionary © Cambridge University Press)
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