Is there a means, in the "File" folder to do collaborative work? Example: I post a CAD drawing there and want to allow others to check it out, but only one person at a time. If it's checked out, anyone can access the file, but only the person who checked it out can check it back in. When he checks it back in, it is automatically filed with a revision number that is unique and documenting the file's provenance. Ideally, all revisions of all files will be kept until a project administrator deletes old versions.
Is this already part of the system? If not, is it in the planning stages?
Versioning should be available inside of Teams. Don't want to have to go to SharePoint to get it.
Look in your SP library version history. You'll see up to 500 versions of the doc.