There had many user asking for a macro or program to do a save as copy of the selected component from an active assembly. I'm posting this in General section so that users that do not relate themselves to API section can also check this out.
Seth Morgan did created a DLL macro (https://forum.solidworks.com/message/409288#comment-409288) but for some reason I was not able to run/use it. Further it has limited options. So instead I made a utility to do the same task but with more options.
Here is the video showing how the utility works (sorry for my bad voice). SOLIDWORKS Save As Copy from Active Assembly
The video also explains as what needs to be done in order to obtain the utility for free. I would be happy to hear on how this program can be improved.