How to create a soft or symbolic link?
See man ln.
To create a symlink at /usr/bin/bar which references the original file /opt/foo, use:
ln -s /opt/foo /usr/bin/bar
You would need to apply the above command as root (i.e. with sudo).
The error is that you are writing the command wrong. The correct way is
ln -s /<full>/<path>/<to>/<file> /usr/local/bin
http://ubuntuforums.org/showthread.php?t=2001697