Yes, "source code for chips / custom hardware" as a product is mostly referred as IPs. This includes HDL/RTL, netlists and GDS layout for a specific process, in increasing order of closeness to physical reality.
Tangentially related, it is interesting to note that layouts and masks for manufacturing custom chips are not really copyrightable, so there is a thing named "mask rights" and (M) instead of (C) for them.
Tangentially related, it is interesting to note that layouts and masks for manufacturing custom chips are not really copyrightable, so there is a thing named "mask rights" and (M) instead of (C) for them.