The Corporation started upon the chance meeting of The Granny and a friend's older brother, who at that point were barely aquainted with each other, at Scarborough Town Center. They bonded over their mutual love of The Clash. Enlisting former Elektravision guitarist, Max Edward (bass) to round out the 3 peice otherwise consisting of Peter Ingram (vocals and guitar) and The Granny (drums and backup vocals), The Corporation started knocking up house parties all over Scarborough. After a climactic show at The Elmo, this incarnation broke up.

Some time later, Peter called up The Granny to get the group back together. The band was reformed, but this time with Mark McDonald, also formerly of Elektravision, on bass (and backup vocals). This was the longest lived incarnation of the Corporation, as well as the most productive and prolific, recording a full length record, aptly titled I.P.O.. Despite the grand vision Granny Gremlin had, this record was never released (except as a series of one-off burned CDs). A remix album, Dividend, was likewise never released.