Source : Webster's Revised Unabridged Dictionary (1913)

Concession \Con*ces"sion\, n. [L. concessio, fr. concedere: cf.
   F. concession. See {Concede}.]
   1. The act of conceding or yielding; usually implying a
      demand, claim, or request, and thus distinguished from
      giving, which is voluntary or spontaneous.

            By mutual concession the business was adjusted.
                                                  --Hallam.

   2. A thing yielded; an acknowledgment or admission; a boon; a
      grant; esp. a grant by government of a privilege or right
      to do something; as, a concession to build a canal.

            This is therefore a concession, that he doth . . .
            believe the Scriptures to be sufficiently plain.
                                                  --Sharp.

            When a lover becomes satisfied by small compliances
            without further pursuits, then expect to find
            popular assemblies content with small concessions.
                                                  --Swift.

Source : WordNet®

concession
     n 1: a contract granting the right to operate a subsidiary
          business; "he got the beer concession at the ball park"
          [syn: {grant}]
     2: the act of conceding or yielding [syn: {conceding}, {yielding}]
     3: a point conceded or yielded; "they won all the concessions
        they asked for"