definiens: means, with respect to the efforts to be expended by a Party withrespect to any objective, the reasonable, diligent, good faith, efforts to accomplish such objective as suchParty would normally use to accomplish a similar objective under similar circumstances . It is understood andagreed that with respect to the Research, Development and Commercialization of Product ( or Compound orNanobody, as applicable ) by either Party, such efforts shall be substantially equivalent to those efforts andresources commonly used by such Party for pharmaceutical or biological products, as applicable, owned by itor to which it has rights, which product is at a similar stage in its development or product life and is of similarmarket potential taking into account efficacy, safety, approved labeling, the competitiveness of alternativeproducts in the marketplace, the patent and other proprietary position of the product, the likelihood of receipt ofMarketing Authorization given the Regulatory Authority involved, the profitability and commercial potential ofthe product to the applicable Party ( including the amounts payable to licensors of patent or other intellectualproperty rights ), alternative products, legal issues and other relevant factors . Commercially Reasonable Effortsshall be determined on a market - by - market and indication - by - indication basis for a particular Product ( orCompound or Nanobody, as applicable ), and it is anticipated that the level of effort will be different for differentmarkets, and will change over time, reflecting changes in the status of the Product and the market(s ) andindication(s ) involved