To hold a business organization responsible in an ethical sense is only possible if the organization can be characterized as a “moral actor.” The chapter discusses this meta-ethical question of great theoretical and practical importance. After a short view on the immense world of business organizations and a historic perspective on corporate responsibility, James Coleman’s sociological definition of the business organization as a “corporate actor” is introduced, which provides the socio-economic basis for attributing moral agency to free-standing formal corporations. Three necessary conditions for moral agency are elaborated: (1) the ability to intend an action; (2) the ability to carry out an intentional action; and (3) the ability to choose an intentional action autonomously. In an analogous sense, these three conditions are applied to business organizations to the extent they are corporate actors. To conclude, the chapter dispels some common misconceptions of moral agency of corporate actors.