Permissions work the same within teams as it does through the system using the same access privileges.
The only major difference is that users with the Admin roles can switch between teams using the drop down on the top menu called Teams. Also Admin users can select All Teams from the menu to see information from all teams all together.
The other difference is that with teams there’s a new role in the system called Team Admin. Team admins can manage everything within the team and can see all information within them but can’t switch to other teams.