This compound is primarily used in organic synthesis as a versatile intermediate. Its structure, featuring ester, carboxylic acid, and thioether functional groups, makes it valuable for creating more complex molecules, particularly in pharmaceutical and agrochemical research. It can act as a building block for synthesizing compounds with potential biological activity. Additionally, it may be employed in the development of polymers or materials with specific properties, leveraging its reactive sites for crosslinking or modification. Its applications are largely centered around its ability to participate in various chemical reactions, such as saponification, amidation, or as a precursor for sulfur-containing compounds.