Used primarily as an intermediate in organic synthesis, this compound serves in the preparation of pharmaceuticals and fine chemicals. Its ester and acid functionalities allow for selective reactions, making it valuable in constructing complex molecules. It is also employed in the development of biodegradable polymers due to its ability to undergo condensation reactions. Additionally, it finds use in the synthesis of prodrugs, where the methoxycarbonyl group acts as a protecting moiety that can be cleaved under physiological conditions.