Semiconductor intellectual property core

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In electronic design, a semiconductor intellectual property core (SIP core), IP core or IP block is a reusable unit of logic, cell, or integrated circuit layout design that is the intellectual property of one party. IP cores can be licensed to another party or owned and used by a single party. The term comes from the licensing of the patent or source code copyright that exists in the design. Designers of system on chip (SoC), application-specific integrated circuits (ASIC) and systems of field-programmable gate array (FPGA) logic can use IP cores as building blocks.