This paper briefly describes the historical development of Czech enterprises sector from the establishment of Czechoslovakia over the war period and communism while focusing on the changes during the reform (transition) process. It deals both with the medium and large size companies as well as the entrepreneurial sector as well.
A special interest is paid to the legal framework and its effect on conducting business. Lastly, it also gives a brief overview of the bankruptcy procedures; this section is a natural complement to the main part that, in essence, describes establishment, entry and changes of new firms or former state-owned enterprises