What is the difference between a free Smartsheet user and and a paid member?

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My company is looking to clear out some Smartsheet licenses from people that don't need them and from what I've looked up the only real difference between a paid and free account is that the paid account can CREATE new sheets while the free accounts can only EDIT and VIEW sheets.

Is this true?

Is there anything else I should know? or is it as simple as that?

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