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concede (v.)

1630s, "to make a concession of, yield up" (transitive), from French concéder or directly from Latin concedere "give way, yield, go away, depart, retire," figuratively "agree, consent, give precedence," from con-, here probably an intensive prefix (see con-), + cedere "to go, grant, give way" (from PIE root *ked- "to go, yield").

From 1640s as "to admit as true." Intransitive sense "accept a disputed point, yield" is from 1780; especially "admit defeat" in an election (1824). Related: Conceded; conceding.

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Definitions of concede from WordNet

concede (v.)
admit (to a wrongdoing);
Synonyms: profess / confess
concede (v.)
be willing to concede;
Synonyms: yield / grant
concede (v.)
acknowledge defeat;
The candidate conceded after enough votes had come in to show that he would lose
concede (v.)
give over; surrender or relinquish to the physical control of another;
Synonyms: yield / cede / grant
From wordnet.princeton.edu