Shared drives are shared spaces where teams can easily store, search, and access their files anywhere, from any device.
Unlike files in My Drive, files in a shared drive belong to the team instead of an individual. Even if members leave, the files stay exactly where they are so your team can continue to share information and get work done.
Shared Drive vs. Regular Google Drive
Members of a shared drive share ownership of any files and folders.
If someone leaves the shared drive, any files they added will stay.
You cannot move any files you do not own into a Shared Drive. This can make moving a large folder of many files problematic, especially if you have a lot of different people that have contributed to it.
TSPs can assist with migrating folders to Shared Drive. You need to share your Shared Drive and the folder you want migrated with the TSP admin account of the TSP you are working with.
Folders cannot be shared with anyone outside of the team from within a Shared Drive. Files can be shared individually with people that are not part of your team.
Not really a limitation, but something to be aware of; unless you give someone full rights to a Shared Drive, they cannot move files and folders around. Edit rights will not let them move files.
400,000 file count limit (per Shared Drive)
Files stored in Shared Drives cannot be directly shared in Canvas.