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What is Concession
Concession is a term that includes authorization to operate an economic activity - trade granted on the basis of proven competence or legislation.

Concession is a term that includes authorization to operate an economic activity - trade granted on the basis of proven competence or legislation. Licensed trades are therefore such businesses, whose operations need state approval under a special law.

Concession in practice: Concession is a kind of supervision over certain trades, which state regulation has a special interest.

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Last update: 16.09.2015

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