Used as an intermediate in organic synthesis, particularly in the preparation of esters and chiral compounds. It serves in pharmaceutical manufacturing where sulfonyloxy and carboxylate functionalities allow for selective reactions. Its structure supports use in prodrug design, enabling controlled release of active ingredients. Also applied in polymer chemistry as a modifier to introduce functional groups that enhance solubility or reactivity. Commonly employed in research settings for developing biologically active molecules due to its ability to participate in acylation and sulfonation reactions.