definiens: means, with respect to the efforts to be expended by a Party, the use of reasonable, diligent, good faith efforts and resources to accomplish such objective, as such Party or its Affiliates would normally use to accomplish a similar objective under similar circumstances, it being understood that, with respect to the research, manufacture, Development, or Commercializa tion of Licensed Product, such efforts and resources shall be substantially equivalent to those efforts and resources commonly used by such Party for a product owned by it or to which it has rights, with similar market and economic potential as the relevan t Licensed Product and at a similar stage in its Development or product life as the relevant Licensed Product, taking into account efficacy, safety, approved labeling, the competitiveness of alternative products in the marketplace, applicable intellectual property rights, the likelihood of Regulatory Approval of the relevant Licensed Product and its alternatives, and the actual or anticipated profitability of the relevant Licensed Product, and other relevant factors commonly considered by the Party in simil ar circumstances