There are currently 2 roles in Team Workspace: owner, and member.
If you create a Team Workspace, then you're automatically the owner. There can only be 1 owner in a Team Workspace and the ownership cannot be transferred.
The owner can invite up to 98 members and can remove members from the workspace.
The owner can record and transcribe audio, and can edit, delete and permanently delete a transcript. Only the owner is allowed to delete the Team Workspace.
Members join the Team Workspace through the invite link the owner sends them. They can record and transcribe audio, and have permission to edit and delete transcripts (NOT permanently delete) in the workspace.