The general inventive concepts relate to an alkali soluble binder which is obtained by copolymerizing main polymerization monomer(s) and functional polymerization monomer, wherein said main polymerization monomer is selected from the group consisting of (meth)acrylic acid and esters thereof, and said functional polymer monomer comprises (meth)acrylic acid C14-C22 alkyl ester and C4-C6 alkenyl anhydride or dianhydride. The general inventive concepts further relate to a photosensitive binder composition and a process for producing the alkali soluble binder and a process for producing the photosensitive binder composition.