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[Faculty and Staff] A SharePoint File Share site is used to store files for a department or group. The site is unique because permissions are handled through the group management tool and not directly through the site. These sites are a repository for departmental or custom share files.
[Students, Faculty and Staff] A SharePoint Team Site is a place where a group of colleagues can share information and work collaboratively on projects from any device with internet access. This site includes a group of webpages, document libraries, lists for data management and web parts for organization. Unlike a SharePoint File Share Site, permissions for a Team Site are managed within SharePoint.