What is the difference between Permissions and Inherit Permissions?
Regular permissions apply specifically to the folder itself. Regular permissions define who has what access to the folder and optionally, the current contents of the folder. Inheritable permissions are the permissions that you grant to a contact on all additional folders created within that folder and all files uploaded in the future to that folder. Generally, you can think of Inheritable Permissions as a set of permission rules for future folders and files. For more information, completely read through Inherit Permissions.