Patent ID: 8921591

Claim:
A preparation process comprising: (a) reacting a compound of Formula (I) with a compound represented by R 3 OH in the presence of carbon monoxide, an oxidant, a transition metal catalyst, a ligand and a solvent to provide a compound of Formula (II): (b) converting the compound of Formula (II) by hydrolysis to form a compound of Formula (III): wherein, R 1 and R 2 are each independently selected from: hydrogen, linear or branched C 1 -C 40 aliphatic hydrocarbyl, substituted or unsubstituted C 6 -C 60 aryl group, linear or branched C 1 -C 40 alkoxy, halogen, furanyl, furanyl substituted with 1-3 substituents selected from the group of consisting of C 1 -C 40 alkyl, C 1 -C 40 alkoxy, aryl, aryloxy and halogen; pyridinyl, pyridinyl substituted with 1-4 substituents selected from the group consisting of C 1 -C 40 alkyl, C 1 -C 40 alkoxy, aryl, aryloxy and halogen; hydroxyl, nitro, amino, linear or branched C 1 -C 40 ester group linear or branched C 1 -C 40 acyl and sulfonic acid group; R 3 is linear or branched C 1 -C 30 alkyl, benzyl or substituted benzyl.