Many sciences meet in the study of family business as a real phenomenon. Despite the fact that in most countries of the world, family business is a rather widespread and highly demanded legal phenomenon, in Russia family business is realized not so often and for the most part, remains strange for an ordinary entrepreneur. Family business in Russia seems to be a phenomenon that is not studied completely but requires special attention. Objective of the research: determination of the essence and main tendencies of the development of legal regulation of the entrepreneurial activity and family business in the period of reformation of the Russian legislation. This scientific research applied a dialectical method of cognition of legal processes and phenomena, used the general scientific methods of scientific cognition of the legal essence of entrepreneurial activity and family business, in particular, a historical method, a method of synthesis, analogy, formal logics, and also specific scientific methods of research of family business and business processes in the post-reform period. Results and novelty: Family business shall be a systemic element that connects the state with small and medium businesses. The introduction of such a form of business activity (family business) shall eliminate the problems and defects of legal regulation of issues arising when business is carried out by family members. It seems necessary to consider the entrepreneurial activity and family business as individual economic and legal phenomena and a grounding of family business as an independent complex legal institution. It is offered to specify the family (spouse) business as a legal entity in the law. Such changes are directed to the efficient legal regulation and establishment of economic conditions for strengthening of family business and development of the family as a social and economic community. The features of the special legal regime of the entrepreneurial activity of spouses are revealed.