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This article shares how to use Manage Access in SharePoint to adjust access to files and folders for your Teams. Folders and documents inherit access settings from the parent folders.
There are 3 basic access options: edit, view only and stop sharing. When you edit access settings, the folders and documents you create within the edited folder will inherit the edited settings.

1. To find Manage Access, start from the files tab of any Teams channel, click Open in SharePoint

2. Click on the 3-dots next to any file or folder, and in the pop-up menu, click Manage Access

3. Use drop down arrow by pencil symbols to select access levels for groups.

4. Click the + by Grant access to add other groups or individuals.

Default access settings
Advanced access settings