Three years ago, Laureate Education lifted an obscure new class of corporations into the mainstream when it became the first public benefit corporation to sell shares on the stock market.
Benefit corporations, as they are also called, are billed as being corporations with a conscience. Enshrined in their charters are a social mission and a commitment to the public’s well-being including the environment, workers and everything touched by the company’s operations. Since 2010, 34 states have authorized them and thousands of public benefits companies have sprouted nationwide.
