How long does it take to form a company on Clerky?

From a legal perspective, there are typically several steps to properly forming a startup. Most other online services only handle the first step, incorporation, and if you're lucky, parts of the post-incorporation setup.

The time it takes to complete each step is as follows:

1

Incorporation

We file the certificate of incorporation with the Delaware Secretary of State on an expedited basis, so that they typically return it within 1-2 business days.

2

Post-Incorporation Setup

The post-incorporation setup paperwork is not filed anywhere by Clerky, so this step can be completed as quickly as you're able to finalize the paperwork.

Please note that most startup attorneys would strongly advise against entering into any other legal agreements prior to finalizing the post-incorporation setup.

If the company issued unvested shares to founders in the post-incorporation setup, those founders will typically want to file an 83(b) election. Clerky provides a pre-filled form and instructions to help with this process. Customers who would like elevated support also have the option of filing through Clerky with our managed 83(b) election add-on. Companies can generally continue conducting business while founders are in the process of filing an 83(b) election or waiting to receive evidence of its filing from the IRS.

3

Foreign Qualification

Clerky offers foreign qualification products for California and New York.

California

The California Secretary of State typically processes foreign qualifications in 2-4 weeks. The filing can be expedited to 1-2 business days, for an additional $350 fee to the California Secretary of State (we don't charge any additional fees for this).

New York

The New York Department of State typically processes foreign qualifications in 1-2 business days.

Other States

If you need to foreign qualify in a state other than California or New York, please refer to that state’s official government website for information about processing times.

4

Stock Plan Adoption

The stock plan is not filed anywhere by Clerky, so this step can be completed as quickly as you're able to finalize the paperwork.

Depending on your startup's circumstances, you may wish to make one or more filings to comply with applicable securities regulations. The time it takes to do this will be variable, depending on the jurisdiction. For example, startups intending to issue equity compensation to employees, consultants, advisors, or any other service provider domiciled in California should also file a 25102(o) notice with the California Department of Financial Protection and Innovation (DFPI).