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In electronic design a semiconductor intellectual property core, IP core, or IP block is a reusable unit of logic, cell, or integrated circuit (comonly called a “chip”) layout design that is the intellectual property of one party. IP cores may be licensed to another party or can be owned and used by a single party alone. The term is derived from the licensing of the patent and/or source code copyright that exist in the design. IP cores can be used as building blocks within application-specific integrated circuit (ASIC) designs or field-programmable gate array (FPGA) logic designs.

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