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Meaning of “concession” in the English Dictionary

"concession" in British English

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concessionnoun

uk   /kənˈseʃ.ən/  us   /kənˈseʃ.ən/
  • concession noun (SOMETHING ALLOWED)

C2 [C or U] something that is allowed or given up, often in order to end a disagreement, or the act of allowing or giving this: Both sides involved in the conflict made some concessions in yesterday's talks. He stated firmly that no concessions will be made to the terrorists.
See also
[U] the act of admitting defeat: The former president's concession came even before all the votes had been counted. a concession speech

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(Definition of concession from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"concession" in American English

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concessionnoun

 us   /kənˈseʃ·ən/
  • concession noun (SOMETHING GIVEN UP)

[C/U] something allowed or given up, often in order to end a disagreement, or the act of allowing or giving up something: [C] Both sides involved in the talks made concessions.
[C/U] Concession can also be the act of admitting defeat: [U] a concession speech
  • concession noun (SALES PLACE)

[C] permission to sell something, esp. in part of a store owned by someone else, or a business that sells something: A lot of movie theater profits come from their candy concessions.
(Definition of concession from the Cambridge Academic Content Dictionary © Cambridge University Press)

"concession" in Business English

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concessionnoun

uk   us   /kənˈseʃən/
[C or U] something that you agree to give someone or allow them to do, especially in order to end an argument or disagreement: concession to sb As a concession to environmental groups, the energy giant agreed to scale down its coal plant expansion plans. demand/seek concessions The administration has demanded concessions from auto workers as part of the "viability plan" it is preparing.offer/make concessions We would be prepared to make concessions in order to reach an agreement.
See also
[C] COMMERCE a small business that is allowed to sell goods, food, or services on property owned by someone else, for example, inside an airport or a large store: open/operate/run a concession The furniture and homeware retailer has recently opened its first concession within a garden centre. Fans were stocking up on hamburgers and hotdogs at the concession stand. airport/hotel/stadium concessions
[C] COMMERCE official permission to carry out a particular type of business, or to own or do work on a particular piece of property or land, given by a government or company: The government plans to sell a 50-year concession to operate the southeastern rail line.award/grant a concession We are delighted to have been awarded the concession for the development of the airport. The mining company was granted a concession agreement to mine and market diamonds.
[C] mainly UK a reduction for particular groups of people in the amount of money that has to be paid for something: give/offer concessions Many railways offer fare concessions for passengers with disabilities. Tax concessions will be made available to non-profit organizations.
[C] FINANCE, STOCK MARKET the amount of money that an underwriter receives as payment when new shares are sold to the public for the first time: Investment bankers compensate members of the selling syndicate through payment of a selling concession, which is a type of sales commission.
(Definition of concession from the Cambridge Business English Dictionary © Cambridge University Press)
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“concession” in Business English

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