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A concession agreement in the business world refers to a negotiated contract granting a company the right to do business with specific requirements. This can be between a foreign company and a government, allowing the company to operate in the country, or granting exclusive rights in a specific area or venue. The terms are carefully negotiated, with the government possibly offering incentives like tax breaks or relaxation of restrictions. If the government is less supportive, the company may need to make concessions.
