Cohen v. Beneficial Industrial Loan Corp. is a significant case in U.S. law that deals with the final judgment rule and the ability to appeal decisions made during litigation. This case clarified the circumstances under which an interlocutory appeal can be taken, emphasizing that not all orders are immediately appealable unless they fit specific criteria set by statute or precedent. It illustrates how courts determine whether a decision is final or if it qualifies for immediate appeal, impacting how parties approach litigation and their strategy regarding appeals.