These were two ways in which the colonies of North America were administered. The colonies of North America were originally founded as corporate colonies. Corporate colonies were those who were governed by the king, but owned by stockholders. Examples of these were Virginia and Massachusetts.
On the other hand, royal colonies arose in the mid-1600s, and led to a decrease in the power of the governors. The king regained control of this land, and he was able to appoint his own officials to the colonies. This led to increased political dissatisfaction with England among the colonists.