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As we go through various design step original netlist is modified many times for example for optimization etc. LEC check whether modified netlist still performs intended function or not i.e. it is logically equivalent to original net list.
LEC can be performed both on hierarchical netlist and flat netlist.. Equivalence check is done to check whether netlist (after synthesis optimisation, post cts, post route) is logically equivalent to golden RTL or netlist..