A number of useful Materials Browser-related commands are accessible using context menus. Context-click on any material's icon or name to access the Materials Browser's context menus. The following options appear depending on whether you are clicking on icons in an established materials collections or in the In Model materials.
Use the Duplicate menu item to duplicate the material. The Color name dialog box appears. Enter a new name for the duplicated material in the Color Name field. Click OK.
Use the Edit menu item to place the current material in the Edit Panel.
Use the Remove menu item to remove a material from the In Model materials.