A more thorough explanation:

Corporate authority refers to the power that is rightfully held by the officers of a corporation. This power allows them to make decisions and take actions on behalf of the corporation.

For example, the CEO of a company has the corporate authority to make decisions about the direction of the company, such as which products to develop or which markets to enter. The CFO has the authority to make financial decisions, such as how to invest the company's money or how to allocate resources.

These examples illustrate how corporate authority is essential for the smooth functioning of a corporation. Without it, decisions would be difficult to make and the company would struggle to achieve its goals.