Used primarily as a building block in organic synthesis, this compound serves in the preparation of pharmaceuticals and biologically active molecules. Its strained cyclobutane ring and functional groups make it valuable for constructing complex ring systems and chiral intermediates. It is employed in the development of specialty chemicals, including agrochemicals and medicinal agents, where ring strain and stereochemistry play a role in biological activity. The carboxylic acid group allows for easy derivatization into amides, esters, and other functional groups, enhancing its utility in drug discovery and process chemistry.