What happens to 'lost' leads in most companies? I understand that a 'won' lead gets converted to an account/contact and possibly opportunity, but what constitutes a 'lost' lead is unclear.
Are they deleted? Given a status of 'Closed - Not Converted'? Do they just hang out?
The reason I ask is that I'm trying to find a general way for determining negative terminal state for leads for analytics purposes.
(I did already ask this in the irc chat room, but wanted to create something that would persist for posterity)