Concession
WordNet
noun
(1) A contract granting the right to operate a subsidiary business
"He got the beer concession at the ball park"
(2) The act of conceding or yielding
(3) A point conceded or yielded
"They won all the concessions they asked for"
WiktionaryText
Noun
- the act of conceding, especially that of defeat
- something, such as an argument, that is conceded or admitted to be wrong
- the grant of some land to be used for a specified purpose
- 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
- In Ontario, a small road between tracts of farmland.