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 thereare any differences if:

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