Upstart
Revision 3 as of 2011-01-19 05:29:51
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Upstart is an event-based replacement for the /sbin/init daemon which handles starting of tasks and services during boot, stopping them during shutdown and supervising them while the system is running.
You may want to look at UbuntuBootupHowto for a practical look on how to use Upstart in ubuntu.
See http://upstart.ubuntu.com for more details.