concession

Concession refers to the act of yielding a demand, privilege, or point in dispute. In everyday use it describes a negotiated compromise in which one party grants something to another to facilitate agreement. Concessions can be formal, as in contracts or treaties, or informal, as when individuals adjust their positions in a discussion.

In rhetoric, a concession is a deliberate acknowledgment of an opposing argument or its merits. Used strategically, it can build credibility and soften opposition before offering a refutation or alternative, though excessive concessions may undermine a speaker's perceived position.

In public administration and business, a concession is a contractual arrangement in which a government or public body grants a private entity the right to exploit resources or operate a service for a specified period. The private party, the concessionaire, pays fees or royalties and adheres to performance standards; the state typically retains ownership and regulatory oversight.

In electoral politics, a concession is the act of acknowledging defeat, often accompanied by a concession speech that seeks to preserve legitimacy and encourage cooperation. More broadly, the term also appears in phrases like concessionary rights or concessions in diplomacy, designating limited privileges granted as part of negotiations.