definiens: means, with respect to the efforts to be expended, or considerations to beundertaken, by a Party or its Affiliate with respect to any objective, activity or decision to be undertaken hereunder, reasonable, good faith efforts to accomplish such objective, activity or decision as such Party would normally use toaccomplish a similar objective, activity or decision under similar circumstances, it being understood and agreed thatwith respect to the Development or Commercialization of the Licensed Product, such efforts and resources shall beconsistent with those efforts and resources commonly used by a Party under similar circumstances for similarproducts owned by it or to which it has similar rights, which product, as applicable, is at a similar stage in itsdevelopment or product life and is of similar market potential taking into account efficacy, safety, approved labeling, the competitiveness of alternative products sold by third parties in the marketplace, the patent and other proprietaryposition of the compound or product, the likelihood of regulatory approval given the regulatory structure involved, theprofitability of the product taking into considerations, among other factors, third party costs and expenses includingamong other things any royalties, milestone and other payments required under this Agreement, and the pricing andreimbursement relating to the product . Commercially Reasonable Efforts shall be determined on a market - by - marketand indication - by - indication basis for the Licensed Product, as applicable, and it is anticipated that the level of effortwill change over time, reflecting changes in the status of the Licensed Product, as applicable, and the market(s)involved