During hardware design process, an "English" description of hardware is refined into a formal specification model and a collection of temporal assertions that the formal logic model must satisfy. This specification model is further refined into an implementation model to meet timing, area and power requirements. Therefore, in order to prove the "correctness" of the implementation model, one proves that the specification model satisfies the temporal logic assertions and that the implementation and specification models are "functionally" equivalent. I will give a brief overview of some of the concepts of hardware equivalence developed in the literature, and I will report on work at Intel's Formal Technologies group in Haifa on designing compositional, formal verification methods to cope with the verification complexity of Intel designs. See papers in FMCAD06 and ICCAD04.