Concession
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1.
An arrangement where the right is given to sell a product or to run a business.
Concessions are generally time-limited and often granted for particular geographical regions.
In retail businesses, concessions may be given in a building belonging to another retail business.
2.
A preferential allowance or rate, such as a tax concession.
3. Law - contract - negotiation.
Something that is given up in negotiation, generally in order to accelerate agreement.
