definiens: means, ( a ) with respect to the efforts to be expended by a Party to accomplish aparticular objective, the good - faith and diligent efforts that such Party would normally use to accomplish a similar objectiveunder similar circumstances, and ( b ) with respect to the research, development or commercialization of a Licensed Product, such efforts as are substantially equivalent to those efforts and resources commonly used by such Party for a comparableinternally generated ( i.e., not in - licensed from a Third Party ) product being developed by such Party, taking into accountcommercially relevant factors such as ( as applicable ) stage of development, product life, market potential and regulatoryissues . Commercially Reasonable Efforts shall be determined on a market - by - market and indication - by - indication basis for aparticular Licensed Product, and the Parties acknowledge and agree that the level of effort will be different for differentmarkets, and will change over time, reflecting changes in the status of the Licensed Product and the market(s ) involved