A workspace is your client-side copy of the files and folders on the source control server. When you add, edit, delete, move, rename, or otherwise manage any source-controlled item, your changes are persisted, or marked as pending changes, in the workspace.
A workspace is an isolated space where you can write and test your code without having to worry about how your modifications might affect the stability of checked-in sources or how you might be affected by changes that your teammates make. Pending changes are isolated in a workspace until you check them in to the source control server.
You can synchronize your workspace with the most recently checked in changes on the server by using the Get Latest command.
If you want to have multiple copies of source on your computer, you can create more than one workspace for a specific source control server.