Wanted to provide an update: while this is not in our immediate roadmap, I’ll share with our team to put this in our future planning process.Kelly Wood commented
This is a very important feature for the way my school district uses shared files. They work from a template within their assigned folder. They must customize the template weekly and save the newest version to the folder. At this time, the only way for them to update the info. and save a new copy is to work via the desktop and do a "save as". There should be a way to stay within "work in word online" and rename the file within the same folder it started in. Maybe something like "work with a copy".