Today organizations have adopted a corporate university model to meet their training requirements, a model that adds value to the business in terms of revenue and profit, improvement in customer retention, improved employee productivity, cost reduction and retention of talented employees. This paper highlights the radical change and an evolution that is taking place in training and development. This paper is about the definition and meaning of a corporate university; how it can help build a corporate leadership to support a compatible corporate culture of knowledge and learning acquisition internally and how to utilize this knowledge to generate new revenue sources from the externals stakeholders. Finally, the paper shows how a corporate university model comes to exist through a LMS or through the support of the academia in the higher education institutions. The paper will cite a few examples in the context of corporate and academia marking the already existing L&D system and suggest the creation of a corporate university model, a pioneering initiative to develop a corporate university. The corporate university model is also responsible for managing knowledge in both internal and external environments and a big solution to the problem of unemployment and underemployment.