Final answer:
Intellectual property rights are designed to encourage innovation and growth in arts and sciences by providing creators with exclusive rights to their work for a specified period, typically 20 years for patents in the U.S.
Step-by-step explanation:
The primary purpose of intellectual property rights is to promote growth in the fields of art and science by giving creators and inventors exclusive legal rights to their inventions and works.
These rights include patents and copyright laws that provide an exclusive timeframe where others cannot make, use, or sell an invention or creative work without permission.
Patents often last for 20 years in the United States, offering incentives for research and development and enabling the possibility of monopoly profits during this period, which encourages innovation and the creation of new technologies and works of art.