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.

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.