"We should leverage our existing relationships." "Let's leverage the data we already have." "We can leverage this partnership to accelerate growth."
In each of these sentences, "leverage" means "use." The word "use" would be clearer, shorter, and more direct. It is also, apparently, not impressive enough.
What leverage actually means
Leverage, in its original sense, refers to the mechanical advantage gained by using a lever. A small force applied at the right point produces a large effect. In finance, leverage refers to using borrowed capital to amplify returns. Both uses describe a specific phenomenon: using something to produce a disproportionately large result.
In corporate communication, leverage has been generalized to mean simply "use." The amplification element has been lost. What remains is a longer, more impressive-sounding word for a simple concept.
Why it spread
Leverage spread because it sounds more strategic than "use." "We should use our existing relationships" sounds like a basic observation. "We should leverage our existing relationships" sounds like a strategic insight. The content is identical. The impression is different.
This is the core mechanism of corporate jargon: words that signal sophistication without adding meaning.
When leverage is actually the right word
Leverage is the right word when you mean the specific thing it describes: using something to produce a disproportionately large result. "We can leverage our brand recognition to enter the new market at lower cost than a competitor without that recognition" — here, leverage is doing real work. The brand recognition is the lever. The lower entry cost is the amplified result.
When you just mean "use," say "use."
The replacement: Read your last three emails or documents. Replace every instance of "leverage" with "use." If the sentence still makes sense, the original word was not necessary.