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Default Understanding Range Names and Labels

I have just worked through an excelent example for creating a chart
directly from a formula on www.jkp-ads.com.
This at last has got my head around Names (I think)
eg.
a name defined "sheet1!Top_left" =sheet1!$a$1 cannot be used or seen on
another sheet
a name defined "Top_left" =sheet1!$a$1 can be used on all sheets and
always refers to sheet1
a name defined "Top_left" =indirect("a1") can be used on all sheets and
refers to a1 on the same sheet as the name call.

The bit I need help on (and sorry for the waffle) is what Labels are and
how do I use them.
Pointers to other reading would be welcome. The xlhelp and ms sites
haven't realy helped.
What I am hoping they do is make some fairly involved sheets I have easier
for others to decipher .

Thanks in advance for any help or suggestions

Cheers RES
 
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