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You might also find your answer in the LastPass Enterprise Manual.
How do I manage user access to a Shared Folder?
After navigating to the 'Manage Shared Folders' link from the Online Vault at www.lastpass.com, the creator of the Shared Folder can manage and restrict what users have access and what kind of access they have to entries within the Shared Folder. These options are:
‘Read-only’ prohibits the user from adding and/or editing credentials.
‘Hide Passwords’ prohibits the user from seeing the credentials.
‘Notify User Via Email’ will send the user a notification regarding their assignment to the shared folder.
‘Can Administer’ will grant the user equal admin rights over the shared folder including: adding and removing users and restricting access to individual sites in the folder.