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A concession agreement in business can refer to a contract between a foreign company and a government, allowing the company to do business in the country. It can also grant the concessionaire exclusive rights in a specific area or venue, with carefully negotiated terms. Governments may incentivize companies with tax breaks or other incentives, while companies may need to make concessions if the government is less enthusiastic. This type of agreement is important in contracts with foreign companies for conducting business effectively.
