CONCESSION

Concession

In international law, a concession is a territory within a country that is administered by an entity other than the state which holds sovereignty over it. This is usually a colonizing power, or at least mandated by one, as in the case of colonial chartered companies.

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concession

Noun

  1. the act of conceding, especially that of defeat
  2. something, such as an argument, that is conceded or admitted to be wrong
  3. Admitting a point to strengthen one's overall case.
  4. the grant of some land to be used for a specified purpose
  5. 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
  6. In Ontario, a small road between tracts of farmland.

Verb

  1. To grant or approve by means of a concession agreement.



The above text is a snippet from Wiktionary: concession
and as such is available under the Creative Commons Attribution/Share-Alike License.

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