This character is a Math Symbol and is commonly used, that is, in no specific script. The character is also known as independence.
The glyph is not a composition. It has no designated width in East Asian texts. In bidirectional text it acts as Other Neutral. When changing direction it is not mirrored. The word that U+2AEB forms with similar adjacent characters prevents a line break inside it.
The Wikipedia has the following information about this codepoint:
The up tack or falsum (⊥, ot in LaTeX, U+22A5 in Unicode) is a constant symbol used to represent:
The truth value 'false', or a logical constant denoting a proposition in logic that is always false (often called "falsum" or "absurdum").
The bottom element in wheel theory and lattice theory, which also represents absurdum when used for logical semantics
The bottom type in type theory, which is the bottom element in the subtype relation. This may coincide with the empty type, which represents absurdum under the Curry–Howard correspondence
The "undefined value" in quantum physics interpretations that reject counterfactual definiteness, as in (r0,⊥)
as well as
Mixed radix decoding in the APL programming language
The glyph of the up tack appears as an upside-down tee symbol, and as such is sometimes called eet (the word "tee" in reverse). Tee plays a complementary or dual role in many of these theories.
The similar-looking perpendicular symbol (⟂, perp in LaTeX, U+27C2 in Unicode) is a binary relation symbol used to represent:
Perpendicularity of lines in geometry
Orthogonality in linear algebra
Independence of random variables in probability theory
Coprimality in number theory
The double tack up symbol (⫫, U+2AEB in Unicode) is a binary relation symbol used to represent:
Conditional independence of random variables in probability theory