The act of conceding or yielding; usually implying a demand, claim, or request, and thus distinguished from giving, which is voluntary or spontaneous.

a point conceded or yielded; "they won all the concessions they asked for"

used in the context of negotiating, when it refers to an aspect of the sale which has a real or perceived value, that is given away or conceded by seller (more usually) or the buyer. One of the fundamental principles of sales negotiating is never giving away a concession without getting something in return - even a small increase in commitment is better than nothing.

Something yielded or conceded in negotiating a transaction.

Something given up or agreed to in negotiating the sale of the house. For example, the sellers may agree to help pay for closing costs.

In politics, a concession is the act of a losing candidate publicly yielding to a winning candidate after an election, when the overall result of the vote has become clear.