To enable the "Asset Copy" functionality you would need to set the following setting
You can also limit the assets that can be copied, using their file extension, by enabling this setting (multiple extensions can be listed using a semicolon delimiter - leave blank for no limits).
When viewing an asset's details page, if you have the rights to edit the asset, you will see a Create Copy button.
Clicking this button will create a copy of the asset being viewed and redirect you to the edit page for the newly created asset.
When asset types are enabled you will also need to enable the Copy functionality per Asset Type basis (the file extension based limit will still be applied).
On the Asset Type edit page you should be able to see:
If the asset being copied has child relationships then prior to being redirected to the edit page you will be taken to a page that enables them to select how to handle the copying of the child relationships.
For each relationship you will have the option of discarding the relationship on the copy, creating a link from the copy to the existing child asset from the source or creating a link to a copy of the existing child asset from the source.
Please note that if the number of child assets exceeds the limit in the following setting (default is 50) then you will not offered the choice of creating a copy of them
Once you have selected how to handle the child relationships you will then be redirected to the edit asset page for the newly copied asset.
Note: Peer relationships are not retained during a copy and have to be re-established post copy if they are needed.