concession: Meaning and Definition of

con•ces•sion

1. the act of conceding or yielding, as a right, a privilege, or a point or fact in an argument: He made no concession to caution.
2. the thing or point yielded: Management offered a shorter workweek as a concession.
3. something conceded by a government or a controlling authority, as a grant of land, a privilege, or a franchise.
4. a space or privilege within certain premises for a subsidiary business or service: the refreshment concession at a movie theater.
5. any of the usually sixteen divisions of a township, each division being 10 sq. mi. (26 sq. km) in area and containing thirty-two 200-acre lots.