A business lease is a kind of a lease signed between two business organisations which are the lessee and the lessor. A business lease can be concerned with either tangible or intangible entity owned by one of the business organisations. Tangible lease examples are property etc whereas intangible lease examples are software, competitive knowledge etc. Business leases are drafted to help businesses develop and improve their own operations and accumulate finances.
A business lease involves an owner (lessor) who agrees to rent or lease an asset to another party which is known as a lessee. These business leases involve a certain payment or amount which is known as the rental payment which the lessee pays to the lessor in return for the asset leased.
Business leases are formed through a formal document which is known as a lease agreement. These agreements consist of certain terms and conditions which are legally enforceable and must be followed by both the involved parties so as to avoid any kind of legal hassle or implication. Business leases are the most common types of leases which are quite often practiced or found to be valid. Any business lease must be formed in the presence of a legal aid or witness.