An operating lease is a rental agreement where the lessee (the user) pays to use an asset, such as equipment or property, for a specific period without owning it. These leases are typically short-term and allow businesses to access necessary resources without the long-term commitment of purchasing. In an operating lease, the lessor (the owner) retains ownership of the asset and is responsible for maintenance and other costs. This type of lease is common for items like vehicles, computers, and office space, providing flexibility for businesses to adapt to changing needs without significant capital investment.