Google shared drives (formerly known as Team Drives) are a new feature in Google's G Suite. Unlike files in My Drive, files in shared drives are owned by the team/group rather than an individual. See below for a table that outlines the other differences between shared drives and My Drive.
Google Team Drives
Google shared drives (formerly known as Team Drives) are a feature in Google’s G Suite offering shared space in Google Drive where teams can create, store, search, collaborate on, and have access to all their team-owned files. Below is a list of best practices for using your shared drives here at the University of Michigan.
What can be migrated to shared drives (Team Drives)? Important You must have at least the Contributor role in the destination shared drive (formerly known as Team Drive).