definiens: of a Party means, with respect to an objective, t he reasonable, diligent, good faith efforts of a Party, ( which it may effect through the efforts of its Affiliates, a nd sublicensees ) of the type to accomplish such objective as a simil arly situated ( with respect to size, stage of devel opment, and assets ) pharmaceutical company, as the case may be, would normally use to accomplish a similar objecti ve under similar circumstances, it being understood and agre ed that, with respect to efforts to be expended in relation to a product ( including implementation of development an d commercialization strategies ), such efforts shall be substantially equivalent to those efforts and resou rces that a similarly situated pharmaceutical compa ny, as the case may be, would typically devote to its own inte rnally discovered compound or product, which compou nd or product is at a similar stage in its development or product life and is of similar market and economic potential as products expected to result from the Compounds at a similar stage in their development or product life, taking into account the risks of development, the commerci al potential for the Product, its proprietary posit ion and other relevant factors