Using Office 365 and SharePoint, shared files in the cloud that are opened in the desktop applications (e.g. Excel) show an SharePoint URL-version of relative hyperlinks to files and folders. When setting the appropriate settings for the SharePoint Site, documents like
In Excel e.g. the link when edited looks like this:
When hovering over the hyperlink, however, the link looks like this:
And even though the SharePoint is synced locally through OneDrive, the directory is opened in the web browser. Unfortunately, this means that different files in that directory (e.g. AutoCAD files) cannot be opened properly, because opening them in the browser will download a copy of the file instead of opening the synced local version.