Russia is moving dramatically ahead in reforming its economy and its firms. This joint Russian and American work focuses on the key issue in the Russian economic reform process—how to convert state-owned firms into successful private companies capable of competing in a market economy. Unique case studies of Russian enterprises, their legal and internal structure, management philosophy, and economic performance, provide insightful analyses of the ongoing Russian experience with economic reform. Recent Russian legislation and its implications for privatization are also discussed.