Companies designing today's complex System-on-Chips (SoC’s) must find new ways to meet the challenges imposed by shrinking time-to-market windows and cost pressures. Platform based design methodologies allow companies to reduce the time it takes to bring designs to market and maximize reuse of internal IP on those designs. A platform is the starting point for a new or derivative design that contains all of the IP and design meta data properly configured to be downloaded to a user's workspace. To enable a platform based design methodology, companies must formalize how design IP is handled. By adopting an IP Lifecycle Management solution (IPLM), companies can benefit from streamlining the SoC development process and guarantee that IP is being fully utilized through all of the company’s design projects.