
zuerkennen
to award
To grant and give someone something (e.g., a prize, a right, or a sum of money) in an official or legal procedure.
Das Gericht hat der Mutter das alleinige Sorgerecht zuerkannt.
The court awarded the mother sole custody.
to award / attribute
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to award
To grant and give someone something (e.g., a prize, a right, or a sum of money) in an official or legal procedure.
Das Gericht hat der Mutter das alleinige Sorgerecht zuerkannt.
The court awarded the mother sole custody.

to attribute
To attribute or ascribe a particular quality or value to someone or something.
Man kann diesem Kunstwerk ohne Zweifel einen hohen künstlerischen Wert zuerkennen.
One can without doubt attribute high artistic value to this work of art.
'Zuerkennen' (to award/attribute) is a separable verb. In a main clause in the present or simple past tense, the prefix 'zu' goes at the end of the sentence. In subordinate clauses and in the infinitive, the verb stays together.
Das Gericht erkennt ihm ein Schmerzensgeld zu.
The court awards him compensation for pain and suffering.
This verb requires a fixed structure: the person who receives something is in the dative, and the thing that is awarded or granted is in the accusative. The pattern is: jemandem (dative) etwas (accusative) zuerkennen.
Man erkannte der Autorin (Dativ) den Nobelpreis (Akkusativ) zu.
The author (dative) was awarded the Nobel Prize (accusative).
In the legal or official meaning, 'zuerkennen' (to award/grant) is often combined with rights or sums of money. Common objects are 'einen Preis' (a prize), 'ein Recht' (a right), 'das Sorgerecht' (custody), or 'Schadensersatz' (damages).
Der Jury war es eine Ehre, ihr den ersten Preis zuzuerkennen.
It was an honor for the jury to award her first prize.
In the abstract meaning of ascribing or attributing, the verb is used with qualities or values. Typical objects are 'einen hohen Wert' (a high value), 'eine besondere Bedeutung' (special significance), or 'eine wichtige Rolle' (an important role).
Diesem historischen Ereignis muss man eine große Bedeutung zuerkennen.
One must attribute great significance to this historical event.
to assign / to forgive / to miss
When talking about a prize, both verbs can describe its official allocation. „Vergeben“ refers to the entire process, while „zuerkennen“ places particular emphasis on the decision about who should receive the prize. Use „vergeben“ for awarding a prize, and „zuerkennen“ when the decision is the focus.

Die Jury erkennt den Preis heute Abend der besten Teilnehmerin zu.
The jury is awarding the prize to the best participant this evening.
Die Jury vergibt den Preis heute Abend bei einer feierlichen Veranstaltung.
The jury is awarding the prize this evening at a formal ceremony.