Managing sharing policies in SharePoint Online is crucial for maintaining security and control over how information is shared both within your organization and externally. These policies help administrators enforce data governance standards and ensure compliance with organizational policies.

How to Access the SharePoint Online Admin Center

• From the Office 365 homepage, click on the Admin Link from the left hand side menu links to go to the Microsoft 365 admin center.
  
• This will open Microsoft 365 Admin Center.
• In the Microsoft 365 admin center, expand the Admin centers menu on the left-hand side and select SharePoint. This will redirect you to the SharePoint Online Admin Center.
  

This will open SharePoint Admin center.

How to Configure Sharing Options in SharePoint Admin center

• In SharePoint admin center click on the Sharing from left navigation menu under Policies.
  
• External Sharing: You can choose from several levels of external sharing:
  
• Only people in your organization: Disables all external sharing.
• Existing guests: Only guests already in your directory can be invited to access content.
• New and existing guests: Allows sharing with new guests and adding them to your directory.
• Anyone: Enables sharing with anyone via links that don't require sign-in.
• More External Sharing settings: You can apply advance level of external sharing settings.
  
• Limit External Sharing by Domain:
• Allow only users in specific security groups to share externally
• Guests must sign in using the same account to which sharing invitations are sent
• Allow guests to share items they don't own
• Guest access to a site or OneDrive will expire automatically after this many days
• People who use a verification code must re-authenticate after this many days
• File and Folder Links: Choose the type of link that's selected by default when users share files and folders in SharePoint and OneDrive:
• Specific people (only the people the user specifies)
• Only people in your organization
• Anyone with the link
• Default Permission level while sharing the link: Choose the permission that's selected by default for sharing links
  
• View
• Edit
• Choose expiration and permissions options for Anyone links.
  
• You can set the number of days after which the link shared with Anyone will expire.
• You can set the permission levels for Files and folder for Anyone links.
• Other Settings: Settings like use of short links, name of the people who viewed shared files in SharePoint and OneDrive.