Yes. SharePoint Team Services provides a powerful text-based search feature that helps you find documents and information fast.
Write the features of the search component of Office SharePoint Server 2007?
The search component of Office SharePoint Server 2007 has been significantly enhanced by this release of SharePoint Products and Technologies. New features provide:
A consistent and familiar search experience.
Increased relevance of search results.
New functions to search for people and expertise.
Ability to index and search data in line-of-business applications and
Improved manageability and extensibility.
What are the benefits of Microsoft Office SharePoint Server 2007?
Provide a simple, familiar, and consistent user experience.
Boost employee productivity by simplifying everyday business activities.
Help meet regulatory requirements through comprehensive control over content.
Effectively manage and repurpose content to gain increased business value.
Simplify organization-wide access to both structured and unstructured information across disparate systems.
Connect people with information and expertise.
Accelerate shared business processes across organizational boundaries.
Share business data without divulging sensitive information.
Enable people to make better-informed decisions by presenting business-critical information in one central location.
Provide a single, integrated platform to manage intranet, extranet, and Internet applications across the enterprise.