A right granted by a government to a corporation. It specifies rules under which the company can operate locally. Some concession agreements might include tax break for the corporation, in order to keep them from moving to another jurisdiction not all concessions are the same, it varies, mining laws, taxes, royalty, amount required to be spent on the concession per year, country risk, countries, states, province has different rules, I'm not a lawyer but that will cost you $250.00, aren't you happy I not a lawyer now