Workspaces are Google Drive collaborative folders dedicated to company files, and in which all of Powertools features are available. Those corporate folders can only be created from Powertools, and are the only folders which can be managed by Powertools.
To end-users, they look and feel like standard Google Drive folders. The only difference being in the workspace names being prefixed with "[ w ] - ".
Company ownership of the files
In a workspace, the ownership of all files in the workspace is transferred to a dedicated company account.
Selected users can be named Workspace Managers and get access to the dedicated management features in Powertools.
Open or restricted Workspaces
Workspaces can be "Open" or "Restricted". Open workspaces behave very much like standard Google Drive folders, while "Restricted" workspaces and prevent users from sharing files and folders.
Workspace Managers get access to dedicated reports on the workspace and its content.
Workspace Manager can manage users permissions.
Files in a workspace can be archived.
Files in a workspace can never be fully deleted by the end users.
The domain administrator has access to the full audit log of the operations performed in the workspaces.