Paint Shop was originally distributed as shareware, but is now sold in the United States for US$99.99, or US$59.99 for an upgrade from version 7 or higher, which is considerably lower than the price of its main competition, Adobe Photoshop. In October 2004, Corel Corporation purchased Jasc Software, and with it, the distribution rights to Paint Shop Pro.Originally called simply Paint Shop, the first version, 1.0, was released in early 1992. Paint Shop Pro (PSP) is a bitmap graphics editor and vector graphics editor for computers running the Microsoft Windows operating system that was originally published by Minneapolis-based Jasc Software.