Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of active ingredients requiring chiral cyclobutane structures. Its strained ring system makes it valuable in medicinal chemistry for modifying metabolic stability and bioavailability. Also employed in the preparation of agrochemicals and specialty polymers where ring rigidity influences material properties. The carboxylic acid group allows for easy derivatization into esters, amides, and other functional groups for further synthetic elaboration.