What is the meaning of Cancellation?

The act, process, or result of cancelling; as, the cancellation of certain words in a contract, or of the contract itself.

The operation of striking out common factors, e.g. in both the dividend and divisor.

A postmark that marks a postage stamp so as to prevent its reuse.

In United States intellectual property law, a proceeding in which an interested party seeks to cancel the registration of a trademark or patent.

The property of being cancellate.

Source: wiktionary.org