Can a Membership Group can create/admin new Members?

My apologies if this is a basic question, but we have almost exclusively used EE for magazine and corporate sites that only have a few users on the admin and/or editorial staff. We haven’t created a full, open membership based site with EE yet.

What we need is a site that has individual members (easy) as well as corporate ones. The part I am unsure about is that the Corporate Members need the ability to create and admin users under their account. So the idea is you can join individually, or your company can have a membership allowing say 10 employees and they (corporation) can create and remove those accounts as needed.

Is that something fairly easily covered natively or with 3rd party addons?

Thanks for any input. If anyone else has done something similar I would very much appreciate your input.