That is corporatocracy. Corporatism is a political system of interest representation and policymaking whereby corporate groups, such as agricultural, labour, military, business, scientific, or guild associations, come together and negotiate contracts or policy (collective bargaining) on the basis of their common interests.
It leads to corporatism, the most important aspect of fascism.
Wonder why capitalist countries never mention that?
That is corporatocracy. Corporatism is a political system of interest representation and policymaking whereby corporate groups, such as agricultural, labour, military, business, scientific, or guild associations, come together and negotiate contracts or policy (collective bargaining) on the basis of their common interests.
Source: https://en.wikipedia.org/wiki/Corporatism