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concession

noun

/kənˈsɛʃn/

IPA:

Dictionary definition of concession

The act of yielding or granting something, typically in the context of negotiation or compromise.
"The company made a concession to allow remote work for its employees."

Detailed meaning of concession

It can refer to a formal agreement or contract between two parties, in which one party agrees to grant certain rights or privileges to the other party in exchange for something of value. Concession can also refer to a specific part of an agreement or contract, such as a clause or provision that grants specific rights or privileges.

In a negotiation, a concession is an offer or compromise made by one party to the other party to reach an agreement. The concessions made by each party are typically reciprocal, meaning that each party makes an offer or compromise in order to reach a mutually beneficial agreement. Concessions can be made on various aspects of an agreement, such as price, terms, or conditions.

In a political context, a concession can refer to a territory or a privilege granted by a government to a private entity, such as a mining concession, a land concession, or a concession to operate a public service.

In summary, a concession is the act of yielding or granting something, typically in the context of negotiation or compromise. It can refer to a formal agreement or contract between two parties, in which one party agrees to grant certain rights or privileges to the other party in exchange for something of value, in a negotiation, a concession is an offer or compromise made by one party to the other party to reach an agreement. It can also refer to a territory or a privilege granted by a government to a private entity.

Example sentences containing concession

1. The company made a concession to the union during the contract negotiations.
2. The government made a concession on the tax rate to attract more foreign investment.
3. The treaty included a concession on border disputes.
4. The store offers a concession to senior citizens on certain days of the week.
5. The concession stand at the sports arena sells snacks and drinks.
6. The opposition party demanded more concessions before they would support the bill.

History and etymology of concession

The noun 'concession' has its roots in Latin, stemming from the word 'concessio,' which is derived from 'concedere.' In Latin, 'con' means 'together,' and 'cedere' means 'to yield' or 'to give way.' Therefore, 'concessio' originally referred to the act of yielding or granting something, often in a cooperative or negotiated manner. Over time, this term made its way into English as 'concession,' retaining its fundamental meaning of granting or yielding, particularly in the context of negotiation or compromise. The etymology of 'concession' underscores the idea of coming to an agreement by giving or yielding something to another party, reflecting its role in various aspects of diplomacy, business, and interpersonal relations.

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Further usage examples of concession

1. The host country granted a concession to the oil company to explore in their territory.
2. The movie theater offers a concession for students with a valid ID.
3. As a concession to the protesters, the city agreed to reroute the planned highway.
4. The landlord made a concession on the rent to keep the tenant from leaving.
5. The union members voted to accept the concession offered by the management.
6. In the spirit of compromise, both parties made a concession during the negotiations.
7. The concession granted us exclusive rights to the property for the next decade.
8. He reluctantly made a concession to end the dispute peacefully.
9. The government's concession allowed for tax breaks for small businesses.
10. The concession was a significant step toward resolving the labor strike.
11. Her concession to reduce spending helped balance the budget.
12. Negotiations became smoother after each side made a small concession.
13. The company's concession to improve working conditions was welcomed by the employees.
14. The political leaders reached a historic concession, leading to a peace agreement.
15. The seller agreed to a concession, lowering the price of the house.
16. Concessions in trade agreements can benefit both nations involved.
17. The concession to increase funding for education was a victory for advocates.
18. His concession to support the new policy surprised many of his colleagues.
19. The concession to extend the deadline eased the pressure on the project team.
20. The landlord's concession to repair the roof was a relief to the tenants.
21. Concessions made by both sides paved the way for a successful treaty.
22. The mayor's concession to address homelessness was met with mixed reactions.
23. The union's concession led to improved benefits for workers.
24. She reluctantly made a concession to compromise on the project's design.
25. Concessions in international diplomacy can prevent conflicts from escalating.
26. The concession to reduce pollution was a step toward environmental conservation.
27. The athlete's concession to train harder paid off with a championship win.
28. A mutual concession in the negotiations brought the parties closer to an agreement.
29. The concession to expand public transportation was welcomed by commuters.
30. The CEO's concession to invest in research and development led to innovation and growth.