Valve has launched Steam Family Groups, which will allow you to connect up to 5 close people to share games with each other

On Steam, you can create a family library to share games with other family members. The feature was previously in beta, but now Valve has fully implemented it in its service and called it Steam Family Groups.

Here's What We Know

First, you'll need to create a Steam Family Group, where you can invite up to 5 family members (or friends). You can manage your family group in the Steam client, on your mobile device, or in a browser.

When you join a Steam Family Group, you will automatically have access to all games owned by its members, and they will have access to yours.

When you play games in your Family Library, you'll create your own game saves, earn your own Steam achievements, and have access to Workshop files.

With a family library, you can play games from other family members' libraries even when they're playing another game. And if you have multiple copies of the same game in your family library, other members of your family group can play it at the same time.

However, developers may at any time prohibit the use of their games in family libraries for technical or other reasons.

But remember that if a member of your family group gets banned while playing your copy of the game, you (the game owner) will also be banned from the game. Other participants will not be affected.

Adults can leave a family group at any time, but they must wait 1 year from the date they joined the previous family group to create or join a new one.

It's also important to talk about parental controls.

Steam Family Groups have a parental control feature that allows parents to limit when and what games their children can play on Steam. You can choose which games your children have access to and monitor their activities. This information is available from any device that you use to sign in to your Steam account, including mobile devices.

Each member of a Steam family group has one of two roles: adult or child. Any adult can manage invitations and set account restrictions. Children's accounts may be subject to parental controls and do not have family group management permissions. A child can also ask an adult in a family group to pay for the contents of their shopping cart. The adult can approve the request and pay for the purchase.

Parental controls allow adults to

• provide access to appropriate games;
• restrict access to the Steam store, community and chat with friends;
• set limits on game time (by hour or day of the week);
• view reports on your playing time;
• approve or deny requests from children's accounts for additional playtime and access to features (temporarily or permanently);
• restore access to a child's account if they are unable to log in.

Source: steamcommunity