Used primarily as an intermediate in the synthesis of pharmaceuticals and agrochemicals. Its structure allows for selective functionalization on the aromatic ring, making it valuable in constructing complex organic molecules. The presence of both iodine and chlorine enables sequential cross-coupling reactions, particularly in palladium-catalyzed transformations such as Suzuki or Heck reactions. It is also employed in the development of bioactive compounds where the ester group can be hydrolyzed or transformed into amides to modulate solubility and activity. Commonly found in research settings for drug discovery and in the preparation of specialty chemicals.