Crossword Genius

Locksmith not fully developing corporation (5)

Ross

I believe the answer is:

chubb

'locksmith' is the definition.
(locksmith John Chubb)

'not fully developing corporation' is the wordplay.
'not fully' means to remove the last letter.
'developing corporation' becomes 'chubby' (corporation can humorously mean body fat).
'chubby' with its final letter taken off is 'CHUBB'.

(Another definition for chubb that I've seen is " lock".)

I've seen this clue in The Independent.
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