Advance sharing can be a bit daunting to some folks but the guys over at locker gnome have put together an article which is pretty good at describing how you can use advance sharing so that the type of sharing your providing is safe and secure and is intended for only those who you intended it for.
In Windows 7, you use shared folder permissions to configure who has access to your folders and specifically what type of access they have. For example, you can give an individual or group access to a folder but only give them Read access, which means they can’t make any changes. The specific shared folder permission you can set includes:
Read: Lets the group or user read the contents of a folder or file. However, the user can’t modify those contents in any way.
Change: Gives the group or user Read permission and also lets them modify the contents of the folder or file.
Full Control: Gives the group or user Change permission and also lets them take ownership of the resource.