linalool, and it can be known as linalyl acetate or 3, 7-dimethylocta-1,6-dien-3-yl acetate. It's found in clary sage (up to 78%), lavandin, lavender, and bergamot, as well as neroli, lemon, lime, and some mints (p. 171, Selected Topics in the Chemistry of Natural Products).
In animal studies, it's been shown to have a sedative effect (p. 563) and an anxiolytic effect (p. 302) on rats, but it might not have an anti-inflammatory effect (p. 248, Handbook of Essential Oils). On the other hand, this study, conducted in 2004 on rats, states "The results obtained indicate that linalool and the corresponding acetate play a major role in the anti-inflammatory activity displayed by the essential oils containing them, and provide further evidence suggesting that linalool and linalyl acetate-producing species are potentially anti-inflammatory agents."
Linalyl acetate is considered a fragrance and flavour compound, and it is responsible for a lot of the flavour and fragrance of lavender. It might be a contact allergen - take a quick look at this abstract, which states, "Conclusion: It is concluded that autoxidation of the weakly allergenic linalyl acetate leads to formation of allergenic oxidation products."