• Team - A team is a place in Teams where you can invite others to collaborate. Each team is connected to one or more SharePoint sites. These sites are where the team's files are stored.

• Public team - A public team is a team that anyone in the organization can join. Public teams don't require a team owner to invite someone to the team.

• Private team - A private team is a team that a person can only join when invited by a team owner. Both public teams and private teams offer the same channel types - standard, private, and shared.

• Parent site - The SharePoint site that is created when you create the team. This site is used for file storage for all standard channels. All team owners and members have access to this site.

• Channel - A channel is a location in a team where you can collaborate with others on a specific thing. A team can have multiple channels for different purposes. For example, you might have a team for marketing with different channels for different products or events. There are three types of channels in Teams: standard, private, and shared.

• Standard channel - A standard channel is a channel that all members of a team have access to. Each team comes with a standard channel called "General." Team owners and members can add additional standard channels. It always shows up first in a team's list of channels, and it can't be deleted (every team must have at least one channel).

• Private channel - A private channel is a channel that only some of the team's members have access to. It's used for private conversations and collaboration. Each private channel has its own SharePoint site for file storage. Only members of the private channel can access this site.

• Shared channels - A shared channel is a channel that you can add anyone to, even if they're not a member of the team. It's used for broader collaboration with people outside the team. Each shared channel has its own SharePoint site for file storage. Only members of the shared channel can access this site.

• Channel site - The SharePoint site that is created when you create a private or shared channel in a team. Only owners and members of the private or shared channel have access to this site.

• Microsoft 365 group - A Microsoft 365 group is a membership group that gives people access to multiple Microsoft 365 services at the same time. The membership for each team is stored in a Microsoft 365 group and that group also gives those people access to the team's parent SharePoint site.
  

Teams and SharePoint are connected in the following scenarios:

• When you create a new team from scratch, a new SharePoint site is created and connected to the team.
• When you create a new team from an existing Microsoft 365 group, the team is connected to the SharePoint site associated with the group.
• When you add Teams to an existing SharePoint site, that site is connected to the new team.
• When you create a new private or shared channel, a new SharePoint site is created and connected to that channel.

In Teams, the Files tab on each standard channel is connected to a folder in the parent site's default document library. The Files tab on each private and shared channel is connected to the default document library in the corresponding channel site. Whenever you add or update a file on the Files tab, you're accessing the SharePoint site.