Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of beta-lactam antibiotics and other bioactive molecules. Its strained cyclobutane ring enhances reactivity, making it valuable in ring-expansion and cycloaddition reactions. Also employed in the preparation of agrochemicals and specialty polymers where rigid, three-dimensional structures are needed. The carboxylic acid group allows for easy derivatization into esters, amides, and acid chlorides for further synthetic applications.