Used primarily as a key intermediate in organic synthesis, particularly in the preparation of complex polycyclic compounds. Its strained ring system enables unique cycloaddition reactions, making it valuable in pharmaceutical research for building intricate molecular frameworks. It is also employed in materials science to develop novel aromatic structures with potential applications in optoelectronics. The carboxylic acid functionality allows for further derivatization, facilitating its incorporation into larger molecules for drug discovery and functional polymers.