Please help me understand, how two different excel files with values linked works

[paata01]

So I have two excel files, lets call master file and slave file.
so slave worksheet have some values that's linked to master worksheet, when looking values its path of file location example "D:\Google Drive\Masterfile"
if I copy paste those two files at different location link does not work, because slave file is looking for values at specific path, what I am trying to do is I need few copies of both slave and master file, slave file I understand but master file, has to be always same name and same location? how can I copy master file so that I can fill different data. thanks!

[FDibbins]

Open copied slave, then open copied Master.

If the links dont update to the new location, you may have to do the update manually