n.
     - a small, thin piece removed in the course of chopping, cutting, or breaking a hard material. ▸a blemish left by the removal of a chip. ▸Brit. wood or woody fibre split into thin strips and used for weaving hats or baskets. 
- Brit. a long rectangular piece of deep-fried potato. ▸
(also potato chip)
 N. Amer. a potato crisp. 
- short for microchip.
- a counter used in certain gambling games to represent money.
- (in soccer or golf) a short lofted kick or shot.
v.
 (chips, chipping, chipped)
     - cut or break (a chip) from a hard material. ▸(of a hard material or object) break at the edge or on the surface. 
- 
(chip away at)
 gradually and relentlessly make (something) smaller or weaker:![]()  rivals may chip away at one's profits. 
- 
(chip in)
 contribute one's share of a joint activity. ▸informal make an interjection. 
- 
[usu. as adj. chipped]
 Brit. cut (a potato) into chips.
- (in soccer or golf) strike (the ball) to produce a short lofted shot or pass.
Phrase
  
    - a chip off the old block
 informal someone who resembles their parent in character.
- a chip on one's shoulder
 informal a deeply ingrained grievance.
- have had one's chips
 Brit. informal be dead or out of contention.
- when the chips are down
 informal when a very serious situation arises.
 
  Etymology
  ME: rel. to OE forcippian ‘cut off’.