Concessions
/kənˈsɛʃənz/
Definitions
- (n.) Agreements by which a party yields certain rights or property interests, often in regulatory or commercial contexts.
The government granted concessions to the mining company to extract minerals.
- (n.) Rights or privileges granted by a government or authority to a private entity, such as operating a service or selling goods.
The city issued concessions to operate food stands in the park.
Related terms
Commentary
Concessions frequently appear in contexts involving property rights, leases, or regulatory permissions; clarity about scope and duration is important in drafting.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.