4’-Acetoxybiphenyl-4-carboxylic acid (4’-ABCA) was polycondensed under six different reaction conditions. In 1-chloronaphthalene at 235 degrees C, oligomers with a degree of polymerization (DP) of 3-4 were obtained. Polycondensation in bulk at 270 degrees C yielded fibrous oligomers with a DP > 10. Polycondensation of 4’-ABCA in Marlotherm-S at 320 degrees C yielded a poly(4’-hydroxybiphenyl-4-carboxylic acid), poly(4’-HBCA), without marked morphology. At 400 degrees C and low monomer concentration, whisker-like crystals were obtained. These whiskers possess an orthorhombic crystal lattice at room temperature which undergoes a reversible change to another orthorhombic smectic-E-like crystal lattice around 245 degrees C. This transition includes a volume expansion. Around 410 degrees C a second phase transition to a smectic-B-like phase occurs. At 585 degrees C simultaneous melting and degradation take place, which mainly involves a Fries rearrangement.