Used in the synthesis of fragrances and flavoring agents due to its unique terpene-like structure. Its bicyclic framework contributes to stability and odor characteristics, making it valuable in creating pine or citrus notes in perfumery. Also serves as an intermediate in organic synthesis for pharmaceuticals and agrochemicals, where the strained ring system enables selective transformations. Its carboxylic acid group allows for easy derivatization into esters, amides, or salts for tailored functionality.