You can use cryptography to protect IP and to prevent cloning of microchips even if they get reverse-engineered, but the cipher would have to possess special properties similar to those of VEST ciphers (see http://www.ecrypt.eu.org/stream/vestp2.html), like support family keying to make every ASIC chip implement different secret but secure logic, etc. eBeam, lasers and other technologies are available for that. ECC and other standard ciphers can't possibly do that.
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