Intellectual property rights are a bundle of exclusive rights over these creations of the mind, both artistic and commercial. Artistic creations such as books, movies, music, paintings, photographs, and software are protected by copyright laws. The copyright holder holds exclusive rights to control reproduction or adaptation of their creations, ideas, or inventions, for a designated period of time. Because intellectual property rights grant exclusive rights to intellectual creations, owners reap monopoly profits. This provides a financial incentive for the creation of intellectual property and helps to pay research and development costs associated with creating artwork and developing ideas or inventions.