Used in organic synthesis as an intermediate for pharmaceuticals and fine chemicals. Acts as a protected form of acetylsalicylic acid (aspirin), allowing selective reactions at specific functional groups. Employed in the development of prodrugs due to its ester moiety, which can be hydrolyzed in biological systems to release active compounds. Also utilized in research for studying esterase enzyme activity and metabolic pathways. Its acetyl and ester groups make it valuable in fragrance and flavor synthesis where mild aromatic properties are needed.