You can control the extent to which others are able to view or modify your Word documents. Options vary according to where your documents are stored.
Document access controls are the same across SharePoint, OneDrive and Teams. Note that Teams documents are actually stored in SharePoint.
Stop sharing OneDrive or SharePoint files or folders
See who a file is shared with in OneDrive or SharePoint
Help prevent changes to a final version of a file
Restrict document access using Information Rights Management
For Word documents stored locally, such as on a laptop drive or removable media, you can...
Help prevent changes to a final version of a file
Restrict document access using Information Rights Management