The most common and most likely answer to this crossword clue is the 5 letter word GUILD
I've seen this crossword clue in Independent
G
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Buddy explains!
The straight part
We know that "corporation" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case corporation = guild.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does GUILD mean?
GUILD noun- A group or association mainly of tradespeople made up of merchants, craftspeople, or artisans for mutual aid, particularly in the Middle Ages.
- A corporation.
- A group of diverse species that share common characteristics or habits.
- An organized group of players who regularly play together in a multiplayer game.