Difference between Organization owned entities and User Owned entities

When we created a new entity in CRM, we have to option for “ownership” as “User or Team” and “Organization”. Below are the main differences between these two types of entities.

OWNED ENTITY	USER/TEAM OWNED ENTITY
Entity doesn’t have Owner ID field. Hence, these entity records can’t be owned by any user/team.	Entity has owner ID field. Hence, it can be owned by user/team.
Entity records can be viewed by whole organization users	Entity records can be viewed by user based on their security roles
Records cannot be shared or assigned	Records can be share and assigned
Entity has only two security access levels as “None” and “Organization”	Entity has all access levels (None, user, BU, Parent: Child BUs, Org)