Crossword Genius

Initially the business of the copper round the corner (3)

Ross

I believe the answer is:

plc

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'initially the business of' is the definition.
I know nothing about this answer so I can't judge whether it can be defined by this definition.

'copper round the corner' is the wordplay.
'copper' becomes 'p'.
'round' says the letters should be written in reverse.
'the corner' becomes 'cl' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'cl' reversed gives 'lc'.
'p'+'lc'='PLC'

'the' is the link.

Can you help me to learn more?

(Another definition for plc that I've seen is " Short version of a type of company".)

I've seen this clue in the Evening Standard.
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