Most of us work in a business or business-like environment; even nonprofits and many government agencies have a predominantly business-like approach to the way they work. It therefore makes sense that you should understand the “rules of the game” for businesses in general. Doing so can help you contribute more effectively, and navigate your career journey more efficiently.
In most countries, businesses are, from a legal sense, considered entities in the same way that people are. Companies have individual rights and obligations, often pay taxes, can own and sell property, and so on. The Romans of the mid-500s (mid-500s A.D., that is) recognized a range of corporate entities; the word corporation itself comes from the Latin corpus, meaning a body, or more specifically in this case a body of people.