Used primarily as an activated carbonate ester in organic synthesis, this compound serves as a coupling reagent for the formation of carbamates and esters. It is especially useful in peptide synthesis and in the preparation of protected amino acids, where it facilitates the introduction of the 4-nitrophenoxy group as a leaving group. Its reactivity allows for efficient esterification under mild conditions, making it valuable in pharmaceutical intermediates and prodrug design. Additionally, it can act as a reagent in enzyme inhibition studies due to its ability to modify active site residues selectively.