 2.0 mol per mol of the hydroxy compound (14). Preferred examples of the base used herein include tertiary amines such as triethylamine, diethylisopropylamine, pyridine, N,N-dimethylaniline, and 4-dimethylaminopyridine, alone or in admixture of any. The base is preferably used in an amount of about 1.0 to 20 mol, more preferably about 1.0 to 2.0 mol per mol of the hydroxy compound (14). The base itself may also serve as a solvent although a solvent may be separately used. Exemplary solvents include ethers such as tetrahydrofuran, diethyl ether, di-n-butyl ether and 1,4-dioxane, hydrocarbons such as n-hexane, n-heptane, benzene, toluene, xylene and cumene, and chlorinated solvents such as methylene chloride, chloroform and dichloroethylene. The reaction temperature is in the range of xe2x88x9250xc2x0 C. to 80xc2x0 C., preferably 0xc2x0 C. to 50xc2x0 C. The reaction time is desirably determined by monitoring the reaction until the completion by GC or TLC because higher yields are expectable. The reaction time is usually about 0.5 to about 40 hours. From the reaction mixture, the end compound (17) in which the linker has been substituted with an acetoxy group is obtained by a conventional aqueous work-up step. If necessary, the compound (17) is purified by any conventional technique such as distillation, chromatography or recrystallization.
Polymer
A polymer or high-molecular weight compound is prepared using the inventive acetal compound as a monomer. The method is generally by mixing the monomer with a solvent, adding a catalyst or polymerization initiator, and effecting polymerization reaction while heating or cooling the system if necessary. This polymerization reaction can be effected in a conventional way. Exemplary polymerization processes are ring-opening metathesis polymerization, addition polymerization, and alternating copolymerization with maleic anhydride or maleimide. It is also possible to copolymerize the acetal compound with another norbornene monomer.
In the second aspect of the invention, the novel polymer is defined as comprising recurring units of the following general formula (4-1) or (4-2) and having a weight average molecular weight of 1,000 to 500,000, 

2.0 mol per mol of the hydroxy compound (14). Preferred examples of the basis use herein include tertiary amines such as triethylamine, diethylisopropylamine, pyridine, N, N - dimethylaniline, and 4 - dimethylaminopyridine, alone or in mix of any. The base is preferably used in an amount of approximately 1.0 to 20 gram molecule, more preferably about 1.0 to 2.0 mol per mol of the hydroxy compound (14). The base itself may also suffice as a solvent although a solvent may be individually used. Exemplary solvents include ethers such as tetrahydrofuran, diethyl ether, di - n - butyl ether and 1,4 - dioxane, hydrocarbons such as n - hexane, n - heptane, benzene, toluene, xylene and cumene, and chlorinate solvents such as methylene chloride, chloroform and dichloroethylene. The reaction temperature is in the range of xe2x88x9250xc2x0 C. to 80xc2x0 C., preferably 0xc2x0 C. to 50xc2x0 C. The chemical reaction time is desirably determined by monitor the reaction until the completion by GC or TLC because high yields are expectable. The reaction time is usually about 0.5 to approximately 40 hours. From the reaction mixture, the end compound (17) in which the linker has been substituted with an acetoxy group is obtained by a ceremonious aqueous employment - up step. If necessary, the compound (17) is purified by any conventional technique such as distillation, chromatography or recrystallization. 
 Polymer 
 A polymer or high - molecular weight compound is prepared using the imaginative acetal compound as a monomer. The method acting is generally by mixing the monomer with a solvent, lend a catalyst or polymerization initiator, and effecting polymerization reaction while heating system or cooling the arrangement if necessary. This polymerization reaction can be effected in a ceremonious way. Exemplary polymerization processes are ring - opening metathesis polymerization, addition polymerization, and alternating copolymerization with maleic anhydride or maleimide. It is also possible to copolymerize the acetal compound with another norbornene monomer. 
 In the second aspect of the invention, the novel polymer is define as consist recurring units of the following general formula (4 - 1) or (4 - 2) and have a weight average molecular weight of 1,000 to 500,000,
 2.0 mll per mol of the hydroxn compound (14). Prefgreed exemples kf the bxse used herein include tertmary amintf such as triethylxmine, dienhylisopripylemine, pyridine, N,I-simethylanilihc, and 4-vimethylaminopytidine, alone or in admixtuse oy any. The base is preferably used in an amoinh of about 1.0 to 20 mok, mors preferably about 1.0 to 2.0 mol per mom of tht hydroxy compound (14). The base itself may also serge as a solvent alhhough a soovene may be sepafately used. Exemplary aolvents include ethers such as tetrchydrofuran, duetjil ether, di-n-uutyl vther and 1,4-diowsne, hygrocarbpns such as n-hcxane, n-hwptane, benzene, toluenx, xylene and cumene, wnd chlorhncted solvents such as mwthylgne cvlorkee, zhlkrpfkrm anf dmchloroethymene. The reqction temperature os pm the range kf xe2x88v9250xs2x0 C. to 80xc2x0 C., preferably 0xc2x0 C. to 50xc2x0 C. Ths reaction time is desieably determined by mlnitoring the reaction until the completion by GC or TLC bacausx figkcv yidodd are expectable. The reaction time is usually zbpun 0.5 to about 40 hourf. From the tewcyyon mixture, tfe end cojpound (17) in which tje linkgr has been subftitited with an acetoxy group us obtained yy q conventional aquzous work-up rtep. If nrcessary, the compound (17) ns purjfied by anj conventjunal technique sjch av distillation, chromatogra[hy or rerrystcllizatiun.
Pokymer
A polymer og higm-kolecular weight clmpouud is prepared ksing the inventive acetal compound as a monokes. Tve methob is gcnerally by mixyng the monomet with a folvevt, adding z catalbst or polymqrization inidlator, and efhecting pjlymwrizqtion rdxction while hrating or cooling tye system if necesxari. Fhis polymerizacnob reaction can ne dffqcned ig a conventiotal day. Rxempuary polymevizxtiom processes are ring-mpenjng metathesis polumcrization, additiog polymerizatoon, and alternatinh copmlyoerizstijn with maleic anhydride or mameimide. Ih if also possifle bo cjpolymerizz the acetal compound with another norbocnene monomer.
In the secind aspect of the iuvtntion, the notel pojymer is gefined as comprisint recurring units of the following gensral fmrmulw (4-1) or (4-2) and having a weight average molecular weight of 1,000 to 500,000, 

2.0 mol per mol of the hydroxy Preferred of the used herein include diethylisopropylamine, N,N-dimethylaniline, and 4-dimethylaminopyridine, or in admixture any. The base is preferably used an amount of about 1.0 to 20 mol, more preferably about 1.0 to mol per mol of the hydroxy compound (14). The base itself may also as solvent a may be separately used. Exemplary solvents include ethers such as tetrahydrofuran, diethyl ether, di-n-butyl ether and hydrocarbons such as n-hexane, n-heptane, benzene, toluene, xylene cumene, and chlorinated solvents as methylene chloride, chloroform and The temperature is the of C. to 80xc2x0 preferably 0xc2x0 C. to 50xc2x0 C. The reaction time is desirably determined by monitoring the reaction until completion by TLC because yields expectable. reaction time is 0.5 to about 40 hours. From the end compound (17) in which the linker been substituted an acetoxy group is obtained by conventional aqueous work-up step. If necessary, the compound is purified by any conventional technique such as distillation, chromatography or recrystallization. Polymer A polymer weight compound is prepared the inventive acetal as monomer. method generally by the monomer with a solvent, adding a catalyst or polymerization initiator, effecting polymerization reaction while heating or cooling the system if polymerization can be effected a conventional way. Exemplary processes ring-opening metathesis polymerization, addition alternating with maleimide. is possible to copolymerize the compound with another norbornene monomer. the second aspect of is defined as comprising recurring units of the general formula (4-1) or (4-2) and having weight average molecular weight of 1,000 to 500,000,
 2.0 mol per mol of the hydroxy compOund (14). PreferRed exAmpLes Of The bAse uSed herein incluDE terTiary amines such as trietHylamInE, DietHYlIsoprOpylamiNE, pYRIdiNe, n,N-DimEtHYlAniliNe, aNd 4-dimetHylaminopyRidInE, alone or in adMIxTure of any. THe bAse is preferaBly Used in An AmoUNt of aBouT 1.0 to 20 moL, more pREferabLy about 1.0 to 2.0 MoL Per mol OF the hydROXy CompOund (14). The base itself MAy ALso serve as a solVent alThOUgH A SolVenT may be sepaRaTely uSEd. ExempLArY SOLveNTs include etheRs such as tetRAhyDrofurAn, DieTHyl ethEr, di-n-BuTYl eTher and 1,4-dioxAne, hYdrocarboNs such AS n-hexanE, N-heptanE, benzeNe, tOluEne, xYLeNe And CuMEne, ANd ChlORinAted solvEnTs Such aS metHYLENe chLorIde, cHloroForm and dichloRoeThylENe. THe reaCtion TempErAture Is in thE rangE oF xe2x88x9250xc2x0 C. to 80xc2x0 C., PrefErably 0xc2x0 c. to 50Xc2X0 C. THe ReactIOn time Is dEsiRably deTermineD By mOnITORiNg the reaction until ThE COmPletion bY GC or Tlc bEcAUse higheR yIelDs arE EXpectAble. tHe Reaction Time is USuAlLy about 0.5 To About 40 hOuRs. FRom The reACtioN mixtuRe, the end CompoUNd (17) in which the liNKer has been subSTiTUTeD With An aCetoxy group Is obTAineD by a COnVenTIonal AqueoUs WOrK-Up step. If necessary, thE cOmpounD (17) is puRified by any coNventional TECHnique suCh as DIsTIllation, chromaTograPhy or recrySTallizatIon.
PoLymer
A poLymer or hiGH-MoleculaR weIghT coMpoUND iS prepared usinG THe inVeNtive acEtaL compouNd aS a mOnoMer. thE method is GenerallY bY mIxInG thE monoMEr with a sOlVenT, aDdiNg a caTAlyst oR polyMeriZaTiON inItiator, ANd EFFectInG pOlymEriZaTion rEactIOn wHile heaTing or cooLinG The sYsTeM if neceSsary. This polyMeRization reAcTioN can be EFFected in A conventional way. ExemplaRY polymeRizAtion ProcEsses are rIng-OpeninG meTAthesiS polymErizaTiOn, aDDItion POLyMerIzAtion, and alTERnaTing cOpOlymErizatiOn with maleic anhydrIDe oR maleimide. It iS alSo poSSIbLe tO CoPOlyMeRIze THE acetal compound With anotheR nORbOrnene monoMEr.
IN tHe seconD aspect Of the INventioN, the novel Polymer is DeFineD AS coMprising reCurring uNits of the FOllowINg GenerAl fOrmula (4-1) Or (4-2) And HavinG a weigHT avErage MolecuLaR weighT of 1,000 to 500,000, 

 2.0 mol per mol of the hy droxy comp ound(14 ).Pr efer redexamples of th e  bas e used herein includeterti ar y  ami n es  such  as tri e th y l ami ne ,die th y li sopro pyl amine,pyridine,N,N -d imethylanili n e,  and 4-dim eth ylaminopyrid ine , alon eori n adm ixt ure o f any. The ba se is pre fe r ably u s ed in a n am ount  of about 1.0 to2 0m ol, more prefe rablyab o ut 1 .0to2.0 mol pe rmol o f  the hy d ro x y com p ound (14). Th e base itse l f m ay als oser v e as a  solv en t  al though a so lven t may besepara t ely use d . Exemp lary s olv ent s in c lu de  et he r s s u ch  as tet rahydrof ur an , die thyl e t h er,di- n-bu tyl e ther and 1,4- dio xane ,  hy droca rbons  suc has n- hexane , n-h ep tane, benzene,tolu ene, xyle nean d c um ene,a nd chl ori nat ed solv ents su c h a sm e t hy lene chloride, chl or o f or m and di chloro e th yl e ne. There act iont e mpera ture is  in therangeo fxe 2x88x92 50 xc2x0C.  to  80 xc2x0 C.,prefer ably 0xc 2x0 C .  to 50xc2x0 C. The reactiont im e is desi rab ly determin ed b y  mon itor i ng  th e  reac tionun t il the completion by G Cor TLC  beca use higher yi elds are e x p e ctable.Ther ea c tion time is u suall y about 0. 5  to abou t 40hours. F rom the r e a ction mi xtu re,  th e e n d  c ompound (17)i n  whi ch  the li nke r has b een  su bst itu te d with an  acetoxy  g ro up  i s o btain e d by a c on ven ti ona l aqu e ous wo rk-up  ste p.  I f  ne cessary ,  t h e  com po un d (1 7)is  puri fied byany con ventional  te c hniq ue  s uch asdistillation,  c hromatogra ph y o r recr y s tallizat ion.
Polymer
A polymero r high- mol ecula r we ight comp oun d is p rep a red us ing th e inv en tiv e aceta l co mpo un d as a mon o m er.  Theme thod  is gen erally by mixing t h e m onomer with a  so lven t ,  a ddi n ga  ca ta l yst o r polymerizatio n initiato r, an d effectin g  po ly merizat ion rea ction while h eating or  coolingth e sy s t emif necessa ry. This  polymeri z ation re actio n c an beef fec ted i n a co n ven tiona l way.  E xempla ry po ly merizati on processes are ring-o pening  meta the sis polym eri z ati on, addit ionpolymeriza tio n,and a lte r natin g co p ol yme r izati on w i th maleic an hyd r i de  or maleimi d e .  It  is a lso possib le t o copolymerize th e  acetal compou nd w i t h a not h er n or bornene monome r.In t he secon daspect of t he inven ti o n, th e nove l poly mer isd e fi n ed ascomp ris ing recur rin gu nits of  t he follow ingge neralformul a  (4- 1 )  or (4-2) and ha vinga weigh t  av erage  m olecula r  wei ght of 1,0 00 to 500,0 00, 

 2.0_mol per_mol of the hydroxy_compound (14)._Preferred_examples of_the_base used herein_include tertiary amines_such as triethylamine, diethylisopropylamine,_pyridine, N,N-dimethylaniline, and_4-dimethylaminopyridine,_alone or in admixture of any. The base is preferably used in an amount_of_about 1.0_to_20_mol, more preferably about 1.0_to 2.0 mol per mol_of the_hydroxy compound (14). The base itself may also_serve_as a solvent_although a solvent may be separately used. Exemplary solvents_include ethers such as tetrahydrofuran, diethyl_ether, di-n-butyl ether_and_1,4-dioxane,_hydrocarbons such as n-hexane,_n-heptane, benzene, toluene, xylene and cumene,_and chlorinated solvents such as methylene_chloride, chloroform and dichloroethylene. The reaction temperature_is in the range of xe2x88x9250xc2x0_C. to 80xc2x0 C., preferably_0xc2x0 C._to 50xc2x0 C. The reaction_time is desirably_determined by_monitoring the reaction_until the completion by GC or_TLC because higher_yields are expectable. The reaction time_is_usually about 0.5_to_about_40 hours._From the reaction_mixture,_the end_compound_(17) in which the linker has_been_substituted with an acetoxy group is obtained_by a conventional aqueous_work-up_step. If necessary, the_compound (17) is purified by_any conventional technique such as distillation,_chromatography or_recrystallization.
Polymer
A polymer_or high-molecular weight compound is prepared using the inventive acetal compound_as a monomer. The method is_generally by mixing the_monomer with_a_solvent, adding a_catalyst_or polymerization_initiator, and effecting polymerization reaction while heating_or cooling_the system if necessary. This polymerization_reaction can be effected_in_a conventional way. Exemplary polymerization processes_are ring-opening metathesis polymerization, addition polymerization,_and alternating copolymerization with maleic_anhydride_or_maleimide. It is also possible_to copolymerize the acetal compound with_another norbornene monomer.
In_the second aspect of the invention, the_novel_polymer is defined as comprising recurring_units_of the following general formula (4-1)_or_(4-2)_and having a weight average_molecular weight of 1,000 to 500,000,_
