What does CHIP mean in Universities?

This page is about the meanings of the acronym/abbreviation/shorthand CHIP in the Academic & Science field in general and in the Universities terminology in particular.

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What does CHIP mean?

bit, chip, flake, fleck, scrap(noun)
a small fragment of something broken off from the whole

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"CHIP." Abbreviations.com. STANDS4 LLC, 2017. Web. 25 Apr. 2017. <http://www.abbreviations.com/term/70038>.