ASIC generation revamped for IP reuse

What does IP stand for?
(1) Internet Protocol is a basic communication language or protocol widely used in the Internet or a private network. It is a data-oriented protocol used for communicating data across a packet-switched internetwork. (2) Intellectual Property. A product of the intellect that has commercial value, including copyrighted property (literary or artistic works) and ideational property (patents, appellations of origin, business methods and industrial processes).

What is a core?
A core usually refers to a reusable block of semiconductor intellectual property. It may also be called semiconductor IP (SIP) or IP core.