With the old configuration for Dropbox, your team is NOT eligible for Team Folders.

With the new Dropbox Business, your team shares a team space. Everyone on your team can access the team space, and everyone sees the same folder structure. In the team space, you have two different kinds of folders:

• Team folders – within a team folder, each file or folder can be shared with a different set of people. You can choose to allow others to view or edit the files in a team folder—or block access altogether.
• Team member folders – the team member folder is your space, and you can choose to share the files and folders in your team member folder, or not.

Differencies between OLD Dropbox and NEW Dropbox:

• The OLD configuration for Dropbox Business does NOT provide an option for top-level editing of the team space, and you CAN NOT see a purple folder icon with one person when clicking on “All files”.
  
• The NEW configuration provides the user interface that you should see a purple folder icon with one person on it on dropbox.com, you have the new team space. If you don’t have this purple folder, your team has standard team folders.