According to Dictionary.com:
[kuhn-seed] verb, -ced•ed, -ced•ing. verb (used with object)
1. to acknowledge as true, just, or proper; admit: He finally conceded that she was right.
2. to acknowledge (an opponent's victory, score, etc.)
before it is officially established: to concede an election before all the votes are counted.
There are many times in life that...