Final answer:
A private warehouse is typically operated by the firm owning the product. The building, however, may be owned or leased by the firm.
Step-by-step explanation:
A private warehouse is typically operated by the firm owning the product. The building, however, may be owned or leased by the firm. In some cases, a firm may choose to lease a warehouse space instead of owning it outright. Leasing allows the firm to access the necessary storage space without the financial commitment of purchasing a property.