IPC, in the sense filed here, is a name for a crime: copying someone else’s work — a book, a film, a song, a computer program — and selling those copies as if they were yours. Official English and some news reports use the three letters; everyday talk more often says piracy, or talks about fake copies. The letters are probably a short form of intellectual property crime — crime against someone’s work or ideas — though people almost never expand them in a sentence. It is serious, legal-sounding language, not playground talk. Though actually, the same three letters are reused in other rooms, so if the sentence is not about copying and selling someone’s work, you may be looking at a different IPC.