CONCESSION

noun Etymology: Middle English concessyon, from Anglo-French concessioun, from Latin ~-, concessio, from concedere to concede Date: 15th century 1. the act or an instance of conceding, the admitting of a point claimed in argument, something conceded:, acknowledgment , admission , grant , c. a grant of land or property especially by a government in return for services or for a particular use, a right to undertake and profit by a specified activity, a lease of a portion of premises for a particular purpose, ~al adjective ~ary adjective