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Identify the performance obligations in Renee contract

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Question - Renee Pharmaceutical Corporation licenses to a customer, Anna Inc., its patent rights to an approved drug compound for 10 years and also promises to manufacture the drug for Anna. The drug is a mature product; therefore, Renee will not undertake any activities to support the drug, which is consistent with its customary business practices. Renee is identifying the performance obligations in the contract with Anna.

REQUIRED - Identify the performance obligations in Renee's contract with Anna and consider whether there are any differences if:

(a) No other entity can manufacture this drug because of the highly specialized nature of the manufacturing process; and

(b) The manufacturing process used to produce the drug is not unique or specialized and several other entities can also manufacture the drug for Anna.

Reference no: EM132680513

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