Concession

A concession gives a private or public-law entity a special legal position, often to use a public good, exploit a monopoly-like resource or exercise an activity otherwise reserved to the state. Swiss examples arise in waters, transport, energy, telecommunications or public infrastructure. Unlike an ordinary permit, a concession may create a lasting right and obligations, including fees, service duties, investment requirements or supervision. Its award and modification must respect legality, equality, transparency where required, public interest and protection of legitimate expectations.