Corporate tries to showcase the politics and the games played in the corporate world. The movie revolves around two industrialists, The Sehgal Group of Industries (SGI) owned by Vinay Sehgal (Rajat Kapoor) and the Marwah Group of Industries owned by Dharmesh Marwah (Raj Babbar). The two companies are traditional rivals in the food and beverages category.
Nishigandha Dasgupta (Bipasha Basu) or Nishi, is the Vice President of SGI, while Vinay Sehgal's brother-in-law Ritesh (Kay Kay Menon) joins in as a Senior Vice President. Soon, the Sehgal Group enters a lucrative partnership with international food products giants Friscon.
The state Finance Minister Gulabrao declares that a public sector unit (PSU) is up for sale. Both the companies try to acquire the company. However, Marwah makes a deal with Gulabrao and manages to steal the company away from Sehgal.
Nishi entraps the Marwah Group's CEO, Pervez, and steals confidential information from his laptop. She finds out that Marwah group are planning to manufacture a mint-based soft drink. The Sehgal Group pre - empts this by announcing their own launch of mint-based soft drink, called "Just Chill", before the planned Marwah launch. As a result , Pervez is fired.
A few days before the launch of the drink Sehgal learns that the FDA has found the presence of a large amount of pesticides in the drink. However, Sehgal decides to launch the product by bribing the FDA agents. The CEO Naveen, resigns from the SGI. The drink is a great success. One of SGI's executives is unhappy at Ritesh being made the CEO, and he leaks the information that SGI's product contains pesticides, to Marwah.
Marwah along with Gulabrao do an expose with the media, leading to a raid on the SGI plants and a case on the Sehgals. Sehgal decides that the only solution is for an employee of SGI who is not a member of the Sehgal family to take the blame for this and it is agreed upon that Nishi be chosen for that role. Ritesh is hesitant but Nishi agrees. She is convicted.
Meanwhile the Friscon chief threatens to withdraw all investments from India. Ashwini contacts Gulabrao and both the politicians convince the business giants Sehgal and Marwah to compromise and the ban on the soft drink is lifted. Sehgal had promised Ritesh that Nishi will out of the Enquiry Commission soon but after the compromise he abandons her.
Ritesh, angry about it, threatens to expose Sehgal in front of the media if Nishi is not released within the next two days. However, he is found dead the next day, after a fall from the terrace of his building. A few days later, SGI's product is back on the market. In the new elections Gulabrao becomes the Chief Minister. The movie ends with Nishi shown fighting the case, with her daughter, from Ritesh.