Collection and umbrella projects have a single owner, and that is the account which created the project. The owner of a project can change anything about the project, such as the observation requirements, about text, name, banner, etc., and they can delete the project. Collection and umbrella projects can also have admins, and they can do everything the owner can except delete the project.
So the difference isn’t a big one, but transferring ownership to one of the project’s admins has been requested via emails for a pretty long time, so we’ve made that functionality possible.
If you’re the owner of a collection or umbrella project and want to transfer ownership of it, go to the project’s edit page and scroll down to the bottom. You’ll see a “Make Owner” button next to the admins who are not you:
Click on it to make that admin the new owner of the project.
Please make sure to discuss any transfer of ownership with the potential new owner before actually making the transfer.