An IC is the fundamental building block of all modern electronic devices. As the name suggests, it's an integrated system of multiple miniaturized and interconnected components embedded into a thin substrate of semiconductor material (usually silicon crystal). IC stands for Integrated Circuit. An Integrated Circuit is a compact electronic chip that contains a large number of tiny electronic components, such as transistors, resistors, and capacitors, all built onto a single semiconductor material, often silicon. Learn the full form of IC , which is Integrated Circuit, a small electronic device with many microscopic elements. Find out the types, benefits and limitations of ICs, and how they are used in various devices. An integrated circuit ( IC ), also known as a microchip or simply chip, is a compact assembly of electronic circuits formed from various electronic components — such as transistors, resistors, and capacitors — and their interconnections. [1] .