Minecraft wiki entry for team, associated text: Specifies the value to set <option> to.
Shown below are the values for each option.
For displayName:
<displayName>: component - Specifies the team name to be displayed. Must be a raw JSON text.
For color:
<value>: color - Must be a raw JSON text.
Defaults to reset. If reset, names are shown in default color and formatting.
For friendlyFire:
<allowed>: boolean - Must be a raw JSON text.
true - (Default) Enable players inflicting damage on each other when in the same team.
false - Disable players inflicting damage on each other when in the same team.
For seeFriendlyInvisibles:
<allowed>: boolean - Must be a raw JSON text.
true - (Default) Can see invisible players on the same team semi-transparently.
false - Cannot see invisible players on the same team.
For nametagVisibility:
never - Name above player's head cannot be seen by any players.
hideForOtherTeams - Name above player's head can be seen only by players in the same team.
hideForOwnTeam - Name above player's head cannot be seen by all the players in the same team.
always - (Default) Name above player's head can be seen by all the players.
For deathMessageVisibility:
never - Hide death message for all the players.
hideForOtherTeams - Hide death message to all the players who are not in the same team.
hideForOwnTeam - Hide death message to players in the same team.
always - (Default) Make death message visible to all the players.
For collisionRule:
always - (Default) Normal collision.
never - No entities can push entities in this team.
pushOtherTeams - Entities in this team can be pushed only by other entities in the same team.[1]
pushOwnTeam - Entities in this team cannot be pushed by another entity in this team.[1]
For prefix:
<prefix>: component - Specifies the prefix to display. Must be a raw JSON text.
For suffix:
<suffix>: component - Specifies the suffix to display. Must be a raw JSON text.