definiens: means a proposal by a Proposing Party for the research, development andcommercialization of a Proposed Product . A Bona Fide Proposal shall include, at a minimum, ( a ) a research, development and commercialization plan ( including Development Milestones ) for a Proposed Product, which must becommercially reasonable and reasonably satisfactory to Institutions, including evidence that the Proposing Party has, or reasonably expects to have, access to any intellectual property ( other than the intellectual property that would bethe subject of any Proposed Product License ), that would be necessary to research, develop and commercialize suchproduct and has, or reasonably expects to have, funding available to advance such plan, and ( b ) evidence that theProposing Party has commenced, or would commence within [ * * ] days after the date of a Proposed Product License, research, development or commercialization of such product under such plan