Used as a chiral derivatizing agent in the resolution of enantiomers, particularly in the pharmaceutical industry. Its rigid binaphthyl backbone provides excellent stereochemical control, making it valuable in asymmetric synthesis and chiral catalysis. Commonly employed in the preparation of chiral ligands for transition metal-catalyzed reactions, such as hydrogenation and Diels-Alder reactions. Also utilized in the development of chiral sensors and supramolecular chemistry due to its ability to form well-defined host-guest complexes. Its carboxylic acid groups allow for easy functionalization and incorporation into polymers or solid supports for heterogeneous catalysis.