Con*ces"sion (?), n. [L. concessio, fr. concedere: cf. F. concession. See Concede.] 1. The act of conceding or yielding; usually implying a demand, claim, or request, and thus distinguished from giving, which is voluntary or spontaneous.

By mutual concession the business was adjusted.
Hallam.

2. A thing yielded; an acknowledgment or admission; a boon; a grant; esp. a grant by government of a privilege or right to do something; as, a concession to build a canal.

This is therefore a concession, that he doth . . . believe the Scriptures to be sufficiently plain.
Sharp.

When a lover becomes satisfied by small compliances without further pursuits, then expect to find popular assemblies content with small concessions.
Swift.

• the act of conceding, especially that of defeat
  
• something, such as an argument, that is conceded or admitted to be wrong
  
• the grant of some land to be used for a specified purpose
  
• (mostly US) a contract to operate a small business as a subsidiary of a larger company, or within the premises of some institution; the business itself and the space from which it operates