Top Definition
A leased IP, is an IP address you get from an ISP, that is in use, though the ISP company states other wise.

When you have a leased IP, there will be an IP address conflict, resulting in network connection loss.
A company gives you a leased ip, and the address is already in use by a Cisco IP phone. Both devices cannot use the address at the same time. Resulting in problems with your IP connection.
by X0rbit April 18, 2009

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