I think this is inaccurate at least according to none other than Benito Mussolini: “The Fascist State directs and controls the entrepreneurs, whether it be in our fisheries or in our heavy industry in the Val d'Aosta. There the State actually owns the mines and carries on transport, for the railways are state property. So are many of the factories… We term it state intervention… If anything fails to work properly, the State intervenes.”
In other words, the state gives businesses wide latitude until the businesses mess up and then the state takes over. In any case, the state is supreme over the business interests.
The technical term of corporations over the state is a corporatocracy. You really rarely see that at a national level. Some examples might be things like the British East India company or the Hudson Bay company. Some folks might call Saudi Arabia corporatocracy. Disney world has a bit of a corporatocracy at least at the local level.