The Collaborative International Dictionary of English v.0.48:

Lipic \Lip"ic\ (l[i^]p"[i^]k), a. [Gr. li`pos fat.] (Chem.)
   Pertaining to, or derived from, fat. The word was formerly
   used specifically to designate a supposed acid obtained by
   the oxidation of oleic acid, tallow, wax, etc.
   [1913 Webster]