An explicit expression for the cofactor related to an irreducible invariant algebraic curve of a polynomial dynamical system in the plane is derived. A sufficient condition for a polynomial dynamical system in the plane to have a finite number of irreducible invariant algebraic curves is obtained. All these results are applied to Liénard dynamical systems [Formula: see text], [Formula: see text] with [Formula: see text]. The general structure of their irreducible invariant algebraic curves and cofactors is found. It is shown that Liénard dynamical systems with [Formula: see text] can have at most two distinct irreducible invariant algebraic curves simultaneously and, consequently, are not integrable with a rational first integral.