What first-party data means
The word “own” does not refer to legal ownership of the data, but to the origin of the relationship: the person hands over the information in a channel the company controls and in which it knows who it is dealing with. A quote form, an order in the shop, a newsletter open, a call to support or the browsing path measured on the company's own domain all produce first-party data.
The difference from the other two types is a question of chain of custody. Second-party data is another organisation's first-party data, passed on or sold under an agreement, for example when a hotel chain shares segments with a partner airline; its origin remains traceable, but the company using it was not present when it was collected. Third-party data comes from intermediaries that aggregate it from many external sources and resell it packaged as audiences; the user rarely knows which company ended up holding the profile.
There is also a fourth category that comes up more and more: declared data, or zero-party data, which a person provides consciously and voluntarily when answering a survey or setting preferences. Technically it is a subset of first-party data, with the difference that the intent is declared rather than inferred.