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A concession agreement in the business world 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 exclusive rights to do business in a specific area in exchange for negotiated terms. Governments may incentivize companies with concessions like tax breaks, while companies may need to make concessions in less favorable situations. The agreement is negotiated between the company and the government of the country where business will take place.
