You have a master sheet in a Google Spreadsheet and you want to use it as a template. The script duplicates the master sheet and renames the new sheet. If another sheet exists with the same name, it can either be deleted or you can archive it by renaming it.

function cloneGoogleSheet() {
  var name = 'labnol';
  var ss = SpreadsheetApp.getActiveSpreadsheet();
  var sheet = ss.getSheetByName('Template').copyTo(ss);

  /* Before cloning the sheet, delete any previous copy */
  var old = ss.getSheetByName(name);
  if (old) ss.deleteSheet(old); // or old.setName(new Name);

  SpreadsheetApp.flush(); // Utilities.sleep(2000);
  sheet.setName(company);

  /* Make the new sheet active */
  ss.setActiveSheet(sheet);
}