concession
nounfeminine/kõ.sɨ.ˈsɐ̃w̃/medium
con·ces·são
Definition
The act of conceding; an authorization, permission, or right granted by an authority.
The government granted a concession for the exploitation of natural resources.
Making small concessions can be crucial in negotiations.
Common collocations
make a concessionconcession agreementmining concession
Etymology
Do latim 'concessio, -onis'.