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Leasing is a common way businesses acquire equipment, with 24% of equipment acquisitions in 2018 done through leasing. The top 50 countries in lease volume did $1.36 trillion in leasing volume in 2019, primarily in North America, Europe, and Asia. A lease, as defined by IFRS 16, involves the right to control the use of an identified asset for a period of time in exchange for consideration, without legal ownership of the asset.
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