The Collaborative International Dictionary of English v.0.48:

Team \Team\ (t[=e]m), n. [OE. tem, team, AS. te['a]m, offspring,
   progeny, race of descendants, family; akin to D. toom a
   bridle, LG. toom progeny, team, bridle, G. zaum a bridle,
   zeugen to beget, Icel. taumr a rein, bridle, Dan. t["o]mme,
   Sw. t["o]m, and also to E. tow to drag, tug to draw.
   [root]64. See Tug, and cf. Teem to bear.]
   1. A group of young animals, especially of young ducks; a
      brood; a litter.
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            A team of ducklings about her.        --Holland.
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   2. Hence, a number of animals moving together.
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            A long team of snowy swans on high.   --Dryden.
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   3. Two or more horses, oxen, or other beasts harnessed to the
      same vehicle for drawing, as to a coach, wagon, sled, or
      the like. "A team of dolphins." --Spenser.
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            To take his team and till the earth.  --Piers
                                                  Plowman.
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            It happened almost every day that coaches stuck
            fast, until a team of cattle could be procured from
            some neighboring farm to tug them out of the slough.
                                                  --Macaulay.
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   4. A number of persons associated together in any work; a
      gang; especially, a number of persons selected to contend
      on one side in a match, or a series of matches, in a
      cricket, football, rowing, etc.
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   5. (Zool.) A flock of wild ducks.
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   6. (O. Eng. Law) A royalty or privilege granted by royal
      charter to a lord of a manor, of having, keeping, and
      judging in his court, his bondmen, neifes, and villains,
      and their offspring, or suit, that is, goods and chattels,
      and appurtenances thereto. --Burrill.
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The Collaborative International Dictionary of English v.0.48:

Team \Team\, v. i.
   To engage in the occupation of driving a team of horses,
   cattle, or the like, as in conveying or hauling lumber,
   goods, etc.; to be a teamster.
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The Collaborative International Dictionary of English v.0.48:

Team \Team\, v. t.
   To convey or haul with a team; as, to team lumber. [R.]
   --Thoreau.
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WordNet (r) 3.0 (2006):

team
    n 1: a cooperative unit (especially in sports) [syn: team,
         squad]
    2: two or more draft animals that work together to pull
       something
    v 1: form a team; "We teamed up for this new project" [syn:
         team, team up]