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For more details on how to create custom external actions check the Octane documentation.
OSLC Links field
OSLC Links could be stored in the Octane item. A field needs to be configured in the Octane space where the items that own the links exist.
To setup the OSLC Links field follow the steps:
Navigate to the space you want to configure
Select an entity to which you want to add the custom field
Navigate to the Fields tab and press on + Field
Add the OSLC Links field as a String field