Choose the type of link you want. The permissions for your file or folder are automatically updated when you get the link.
View only
People with this link can only view your file or folder. Anyone who has this link can forward it, so people you might not intend to share your file or folder with could get access to it.
View and edit
People with this link can view your file or folder. They can also edit Office documents using Office Web Apps without needing a Microsoft account. Other edits, such as uploading to a folder, will require signing in with a Microsoft account. Anyone who has this link can forward it, and anyone who receives it will also be able to edit your file or folder.
Public
A public link is like a View only link, but it also allows anyone to find your file or folder by searching. If you choose this option, people will be able to access the file or folder even if you don't publish the link you get.