This paper presents a general theory of the beam‐beam limit in symmetric and asymmetric lepton ring colliders. It shows how the beam‐beam limit in these accelerators affects the maximum attainable luminosity and presents a specific algorithm for parameter base optimization. It is shown that the special problems inherent in asymmetric colliders derive not from the asymmetry, but from the fact that the two beams must be in different rings. Computer simulation experiments are used to demonstrate the various phenomena discussed in the theory.