definiens: means the performance of obligations or tasks in a manner consistent with the reasonable practices of companies in the biopharmaceutical industry having similar financial resources for the Development or Commerci alization ( as applicable ) of a product having simil ar technical and regulatory factors and similar market potential, profit potential and strategic value, a nd that is at a similar stage in its Development or product life cy cle as the Licensed Product, in each case based on conditions then prevailing and without regard to any competiti ve internal program of Licensee . Commercially Reaso nable Efforts requires that the Party ( a ) promptly assign responsibility for such obligations to specific em ployees who are held accountable for progress and monitoring su ch progress on an ongoing basis, ( b ) set and consis tently seek to achieve specific and meaningful objectives for carrying out such obligations, and ( c ) consiste ntly make and implement decisions and allocate adequate resou rces designed to advance progress with respect to s uch obligations