definiens: means, with respect to a party and an obligation t o conduct a particular activity pertaining to the research, dev elopment or commercialization obligations hereunder, that level of efforts and resources reasonably required to car ry out such obligation consistent with the efforts commonly used by a similarly situated company in the biopharmaceu tical industry with respect to a biopharmaceutical product which is of similar market potential and at a simil ar stage in its development or product life, and ot her relevant factors such as efficacy, safety, approved labeling, the competitiveness of alternative products in th e marketplace, the patent and other proprietary position of the pr oduct, the likelihood of Regulatory Approval given the regulatory structure involved, profitability and other technic al, legal, scientific or medical factors . Without l imiting the foregoing, Commercially Reasonable Efforts requires, with respect to such obligations, that the party : promptly assign responsibility for such obligation to specif ic employee(s ) or Third Party contractors, which em ployees or contractors are responsible for progress and monito r such progress on an on - going basis, set annual ob jectives for carrying out such obligations, and allocate resourc es designed to advance progress with respect to suc h objectives