Used as a chiral derivatizing agent in the resolution of racemic mixtures, particularly in the separation of enantiomers of chiral amines and alcohols. Its rigid binaphthyl backbone provides a well-defined chiral environment, making it valuable in asymmetric synthesis and chiral recognition studies. Commonly employed in the preparation of chiral ligands for catalysis, such as in transition-metal catalyzed asymmetric reactions. Also utilized in the development of chiral stationary phases for HPLC, enabling high-efficiency enantiomeric separations. Its carboxylic acid groups allow for easy functionalization or salt formation, enhancing solubility and compatibility in various solvents and reaction systems.