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How could you limit what custom fields are copied when the "Make Copy" action is used for an Item?

Add a script to the record that only triggers in Copy context

Or KILL THE MAKE COPY BUTTON :evil laugh:

You can do it with workflow - but script is probably better performance wise

If I had my way, I'd kill the Make Copy button. While it saves time, the amount of garbage that gets brought over / not updated correctly is immense.