An Application-Specific Integrated Circuit (ASIC) is an integrated circuit (IC) customized for a specific function rather than general-purpose use. Examples of ASICs can be found in high volume consumer goods as well as specialized equipment.
Glossary
Application-Specific Standard Product
An Application-Specific Standard Product (ASSP) is an ASIC which has sufficiently widespread application that it can be sold as a standard product. Examples include chips to drive USB or Bluetooth interfaces, and chips used to run digital communications inside an automobile.