Drawing on an integrative review of the literature on the privatization of education and an empirical case study of technology corporations in education, this article examines the corporate within the political economy of education. It argues that by analytically conceiving of corporations under the banner of the private sphere and, correspondingly, by subsuming the processes of corporatization within the processes of privatization, the literature on privatization conceals the very specific role and influence of corporations. The article puts forward an analytic framework for researching and theorizing corporations in education. How the field of education conceives of corporate actors and their related practices, processes, and power relations is analytically and empirically significant for ensuring equitable, transparent, and accountable educational systems in the United States and globally.