Please follow the example link (button) for a detailed description of "Layout versus Schematic Check".
After the mask layout design of the circuit is completed, the design should be checked against the schematic circuit description created earlier. The design called "Layout-versus-Schematic (LVS) Check" will compare the original network with the one extracted from the mask layout, and prove that the two networks are indeed equivalent. The LVS step provides an additional level of confidence for the integrity of the design, and ensures that the mask layout is a correct realization of the intended circuit topology. Note that the LVS check only guarantees topological match: A successful LVS will not guarantee that the extracted circuit will actually satisfy the performance requirements. Any errors that may show up during LVS (such as unintended connections between transistors, or missing connections/devices, etc.) should be corrected in the mask layout - before proceeding to post-layout simulation. Also note that the extraction step must be repeated every time you modify the mask layout.
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