Windows Server : role of SYSTEM and CREATOR OWNER users?

I'm working on a SBS2003 server, and I'm about to clean up on folder permissions. I notice that quite a few folders have the users SYSTEM and CREATOR OWNER set.

Now, I've found descriptions of the CREATOR OWNER user on the Internet, and I understand that this user is related to the creator of the folder/file. However, I'm unable to find any description of the SYSTEM user and what it is for. Can i safely remove it from folders/files? Will services running on the server suddenly not get access to those folders anymore?

Solution 1:

System is the OS itself, sometimes also known as "Local System" or "System User". Also used by some services for maximum access to local resources.

Creator-Owner is whomever owns the object (which is, by default, whomever created it). This makes it possible to give greater control to the creator of files in a folder where multiple users can create, without giving them all that level of access to files created by others.