Used as an intermediate in organic synthesis, particularly in pharmaceutical and agrochemical manufacturing. Its structure allows for selective functionalization in cross-coupling reactions, such as Suzuki or Heck reactions, enabling the construction of complex aromatic systems. Commonly employed in the development of bioactive molecules where the iodine moiety serves as a handle for further derivatization. Also utilized in the synthesis of specialty chemicals requiring substituted benzoate esters with controlled steric and electronic properties.