Corruption remains a priority area for both the private sector and development implementers. However, there is no consensus on actionable steps toward addressing it on a global level. This issue is especially important in the context of international trade and development as the private sector plays an increasing role in development outcomes. Moreover, countries with the weakest governance structures tend to be those that most need economic development. This report reviews the literature surrounding corruption; identifies the opportunity costs of corruption; and posits actionable steps for the private sector to effectively address corruption worldwide, as well as ways for private-sector actors to work with governments to achieve this goal.