ICF defines coaching as partnering with clients in a thought-provoking and creative process that inspires them to maximise their personal and professional potential. A professional coaching relationship exists when the coaching also comprises a business agreement or a contract that defines the responsibilities of each of the parties. An ICF Professional Coach also agrees to implement the ICF Professional Core Competencies (http://www.coachfederation.org/icfcredentials/core-competencies/) and pledges his/her accountability to the ICF Code of Ethics (https://coachfederation.org/icf-ethics/).
According to a study commissioned by ICF, and conducted by PricewaterhouseCoopers and Association Resource Centre Inc., companies that have employed professional coaching for business purposes have seen a median return on their investment of 7 times their initial investment.