Would companies and individuals invest as much in significant research and development if a system of patents were not available?

a. Yes they would, because they could still hope to monopolize the market.
b. Yes they would, because firms are civic-minded and highly motivated to introduce innovations that improve the standard of living.
c. No they would not, because if they made a significant investment in the development, they would be unable to protect the innovations long enough to be sufficiently compensated for their efforts.
d. No they would not, because the benefits to society of engaging in research and development would be less than the costs to society.