Managing Soft Links
A soft link is an alternate name, or alias, with which you can refer to another existing name in a namespace. Soft links allow users and client applications to refer to a particular directory, object entry, or soft link by more than one name.
In general, you should create soft links to assign alternate names to particular network resources, or to make minor changes to the original names of directories in your namespace hierarchy. You should avoid using soft links to completely redesign your namespace.
More:
Changing a Soft Link's Destination Name
Changing a Soft Link's Expiration or Extension Value