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The term concession agreement is a type of negotiated contract that allows a company to do business under specific requirements. It can refer to a contract between a foreign company and a government, granting the company the right to operate in the country. Additionally, it can also grant the concessionaire exclusive rights in a particular area or venue in exchange for negotiated terms. These agreements are crucial for foreign companies wanting to do business in a new country, with governments offering incentives such as tax breaks or relaxed restrictions. If the government is less cooperative, the company may need to make concessions to secure the agreement.