A new imide-containing dicarboxylic acid based on a twisted binaphthylene unit, 2,2′-bis(N-trimellitoyl)-1,1′-binaphthyl (1), was synthesized from 1,1′-binaphthyl-2,2′-diamine and trimellitic anhydride in glacial acetic acid. The structure of compound 1 was fully characterized with spectroscopic methods and elemental analysis. Series of thermally stable and organosoluble poly(amide imide)s (4a–4d) and poly(ester imide)s (5a–5d) with similar backbones were prepared by the triphenyl phosphite and diphenylchlorophosphate activated direct polycondensation of diimide dicarboxylic acid 1 with various aromatic diamines and diols, respectively. With due attention to the structural similarity of the resulting poly(amide imide)s and poly(ester imide)s, most of the differences between these two block copolyimides could be easily attributed to the presence of alternate amide or ester linkages accompanied by imide groups in the polymer backbone. The ultraviolet maximum wavelength values of the yellowish polymers were determined from their ultraviolet spectra. The crystallinity of these copolyimides was estimated by means of wide-angle X-ray diffraction, and the resultant polymers exhibited a nearly amorphous nature, except for the polymers derived from benzidine and 4,4′-binaphthol. The poly(amide imide)s exhibited excellent solubility in a variety of highly polar aprotic solvents, whereas the poly(ester imide)s showed good solubility in less polar solvents. According to differential scanning calorimetry analyses, polymers 4a–4d and 5a–5d had glass-transition temperatures between 331 and 357 °C and between 318 and 342 °C, respectively. The thermal behaviors of the obtained polymers were characterized by thermogravimetric analysis, and the 10% weight loss temperatures of the poly(amide imide)s and poly(ester imide)s were between 579 and 604 °C and between 566 and 577 °C in nitrogen, respectively.