Question: Provide your arguments for each question below: Why did Charles Goodyear fail to profit from the discovery of rubber vulcanization? How would you assess his

Provide your arguments for each question below:

  1. Why did Charles Goodyear fail to profit from the discovery of rubber vulcanization? How would you assess his commercialization efforts? Success or failture?
  2. Charles Goodyear decided to be an entrepreneur, instead of being employed by firms? Is this rational? Why or why not?
  3. Charles Goodyear decided to license his patented vulcanization process to capture value from his innovation, instead of selling the products on his own. Do you think this is rational? Why or why not?
  4. Charles Goodyear decided to diffuse his innovation eagerly, attending international exhibitions. Do you think this is rational? Why or why not?
  5. To what extent was the patent system to blame? Is this a case of misguided entrepreneurial decision-making, or failure in the institutions of intellectual property?

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