definiens: means with respect to the efforts to be expended by a Party with respect to any objective under this Agreement, reasonable, good faith efforts to accomplish such objective as such Party would normally use to accomplish a si milar objective of such Party under similar circums tances, it being understood and agreed that with respect to th e Development or Commercialization of a Licensed Pr oduct such efforts shall be similar to those efforts and resources commonly used by a Party for a similar bi ological or pharmaceutical product owned by it or to which it h as rights, which product is at a similar stage in i ts development or product life and is of similar marke t potential taking into account efficacy, safety, a pproved labeling, the competitiveness of alternative produc ts in the marketplace, the exclusivity of the produ ct in view of its patent protection, patent life and other propri etary position of the product, and the likelihood o f Regulatory Approval given the regulatory structure involved, p rovided such efforts are substantially and material ly consistent with industry practices and standards