ELI5: Explain Like I'm 5

Perates

Okay kiddo, so have you ever heard of a company? It's a group of people who work together to make things or offer services. And the boss of that company is usually called the CEO.

Now imagine if the CEO decided that they wanted someone to help them run the company, but they didn't want to hire a new person. So instead, they asked one of their trusted employees to do extra work and help them out. They might give that employee a special title, like "COO" or "President", to show that they have more responsibilities now.

Well, that's kind of like what a "perate" is. It's a person who helps run a company, but they're not actually part of the company's official leadership. Instead, they're usually hired by investors or shareholders to keep an eye on things and help make decisions.

Sometimes, a perate might have more power than even the CEO - they might have a say in who gets hired or fired, or they might have veto power over big decisions. But at the end of the day, they're still not technically part of the company's management.

So in short, a perate is someone who helps run a company but isn't officially part of the company's leadership. They're kind of like a secret advisor or boss's helper.
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