definiens: shall mean with rcsPCClto the eff(l(lS to be expended by a Pany with respect 10 any objective . reasonable, diligent, good faith efforts to accomplish such objective 11 $ such Pany would normally use to accompli sh I similar objective under similar circumstances, it bein, understood and agreed Ihat wilh respc : c1 to thedc : velopment orcommc : reialiution of 11 ProdllCt, such efforts shall be substantially tquivalcnt to those effons and re.<;ourccs commonly used by a mid·size biotechno logy company f01 a similar pharmaceutical product owned by il or to which it has rightS, which product is at a similar stage in its development or product life und is of ~i milar market potential taking into account efficacy, safety, approved labelillg, the competitivelless of alternative products ill the marketpJoce, ( he patent and CMher proprietary positiOfl of the product, the likelihood of regulatOf ) ' approval given the regulatory Sll\lcture involved, the profitability of the product including the royalties payable to licensors of patent or other intellectual properly rights, alternative products and othet relevant f3l : tors .. Commerc ially Reasonable Efforts shall be determined on a market - by - mmet and lndication -by - lndicatiOfl basis for a panicular I'mduet, and it is anticipated that the level of effort will be different for different markets . and will change over time, rene<:1ing changes in the UIUUS of the ProduCl and the martct{$ ) involved