diff --git a/redbot/core/bot.py b/redbot/core/bot.py
index c3d609e19..5eb2b027b 100644
--- a/redbot/core/bot.py
+++ b/redbot/core/bot.py
@@ -27,6 +27,7 @@ from types import MappingProxyType
 
 import discord
 from discord.ext.commands import when_mentioned_or
+from discord.ext.commands.bot import BotBase
 
 from . import Config, i18n, commands, errors, drivers, modlog, bank
 from .cog_manager import CogManager, CogManagerUI
@@ -59,7 +60,7 @@ def _is_submodule(parent, child):
 
 
 # barely spurious warning caused by our intentional shadowing
-class RedBase(commands.GroupMixin, commands.bot.BotBase, RPCMixin):  # pylint: disable=no-member
+class RedBase(commands.GroupMixin, BotBase, RPCMixin):  # pylint: disable=no-member
     """Mixin for the main bot class.
 
     This exists because `Red` inherits from `discord.AutoShardedClient`, which
@@ -150,6 +151,7 @@ class RedBase(commands.GroupMixin, commands.bot.BotBase, RPCMixin):  # pylint: d
 
         self._main_dir = bot_dir
         self._cog_mgr = CogManager()
+        self._use_team_features = cli_flags.use_team_features
         super().__init__(*args, help_command=None, **kwargs)
         # Do not manually use the help formatter attribute here, see `send_help_for`,
         # for a documented API. The internals of this object are still subject to change.
@@ -627,10 +629,42 @@ class RedBase(commands.GroupMixin, commands.bot.BotBase, RPCMixin):  # pylint: d
         global_setting = await self._config.embeds()
         return global_setting
 
-    async def is_owner(self, user) -> bool:
+    async def is_owner(self, user: Union[discord.User, discord.Member]) -> bool:
+        """
+        Determines if the user should be considered a bot owner.
+
+        This takes into account CLI flags and application ownership.
+
+        By default,
+        application team members are not considered owners,
+        while individual application owners are.
+
+        Parameters
+        ----------
+        user: Union[discord.User, discord.Member]
+
+        Returns
+        -------
+        bool
+        """
         if user.id in self._co_owners:
             return True
-        return await super().is_owner(user)
+
+        if self.owner_id:
+            return self.owner_id == user.id
+        elif self.owner_ids:
+            return user.id in self.owner_ids
+        else:
+            app = await self.application_info()
+            if app.team:
+                if self._use_team_features:
+                    self.owner_ids = ids = {m.id for m in app.team.members}
+                    return user.id in ids
+            else:
+                self.owner_id = owner_id = app.owner.id
+                return user.id == owner_id
+
+        return False
 
     async def is_admin(self, member: discord.Member) -> bool:
         """Checks if a member is an admin of their guild."""
@@ -1069,10 +1103,11 @@ class RedBase(commands.GroupMixin, commands.bot.BotBase, RPCMixin):  # pylint: d
         await self.wait_until_red_ready()
         destinations = []
         opt_outs = await self._config.owner_opt_out_list()
-        for user_id in (self.owner_id, *self._co_owners):
+        team_ids = () if not self._use_team_features else self.owner_ids
+        for user_id in set((self.owner_id, *self._co_owners, *team_ids)):
             if user_id not in opt_outs:
                 user = self.get_user(user_id)
-                if user:
+                if user and not user.bot:  # user.bot is possible with flags and teams
                     destinations.append(user)
                 else:
                     log.warning(
diff --git a/redbot/core/cli.py b/redbot/core/cli.py
index 9c2575795..f638530d1 100644
--- a/redbot/core/cli.py
+++ b/redbot/core/cli.py
@@ -200,6 +200,18 @@ def parse_cli_flags(args):
     parser.add_argument(
         "instance_name", nargs="?", help="Name of the bot instance created during `redbot-setup`."
     )
+    parser.add_argument(
+        "--team-members-are-owners",
+        action="store_true",
+        dest="use_team_features",
+        default=False,
+        help=(
+            "Treat application team members as owners. "
+            "This is off by default. Owners can load and run arbitrary code. "
+            "Do not enable if you would not trust all of your team members with "
+            "all of the data on the host machine."
+        ),
+    )
 
     args = parser.parse_args(args)
 
diff --git a/redbot/core/commands/commands.py b/redbot/core/commands/commands.py
index 93c78b3e9..313f72f2f 100644
--- a/redbot/core/commands/commands.py
+++ b/redbot/core/commands/commands.py
@@ -330,15 +330,27 @@ class Command(CogCommandMixin, commands.Command):
             if not change_permission_state:
                 ctx.permission_state = original_state
 
-    async def _verify_checks(self, ctx):
+    async def prepare(self, ctx):
+        ctx.command = self
+
         if not self.enabled:
             raise commands.DisabledCommand(f"{self.name} command is disabled")
 
-        if not (await self.can_run(ctx, change_permission_state=True)):
+        if not await self.can_run(ctx, change_permission_state=True):
             raise commands.CheckFailure(
                 f"The check functions for command {self.qualified_name} failed."
             )
 
+        if self.cooldown_after_parsing:
+            await self._parse_arguments(ctx)
+            self._prepare_cooldowns(ctx)
+        else:
+            self._prepare_cooldowns(ctx)
+            await self._parse_arguments(ctx)
+        if self._max_concurrency is not None:
+            await self._max_concurrency.acquire(ctx)
+        await self.call_before_hooks(ctx)
+
     async def do_conversion(
         self, ctx: "Context", converter, argument: str, param: inspect.Parameter
     ):
@@ -625,14 +637,14 @@ class Group(GroupMixin, Command, CogGroupMixin, commands.Group):
 
         if ctx.invoked_subcommand is None or self == ctx.invoked_subcommand:
             if self.autohelp and not self.invoke_without_command:
-                await self._verify_checks(ctx)
+                await self.can_run(ctx, change_permission_state=True)
                 await ctx.send_help()
         elif self.invoke_without_command:
             # So invoke_without_command when a subcommand of this group is invoked
             # will skip the the invokation of *this* command. However, because of
             # how our permissions system works, we don't want it to skip the checks
             # as well.
-            await self._verify_checks(ctx)
+            await self.can_run(ctx, change_permission_state=True)
             # this is actually why we don't prepare earlier.
 
         await super().invoke(ctx)
@@ -778,6 +790,3 @@ class _AlwaysAvailableCommand(Command):
 
     async def can_run(self, ctx, *args, **kwargs) -> bool:
         return not ctx.author.bot
-
-    async def _verify_checks(self, ctx) -> bool:
-        return not ctx.author.bot
diff --git a/redbot/core/commands/requires.py b/redbot/core/commands/requires.py
index f3614e0fa..88b348209 100644
--- a/redbot/core/commands/requires.py
+++ b/redbot/core/commands/requires.py
@@ -757,16 +757,10 @@ class _RulesDict(Dict[Union[int, str], PermState]):
 
 
 def _validate_perms_dict(perms: Dict[str, bool]) -> None:
+    invalid_keys = set(perms.keys()) - set(discord.Permissions.VALID_FLAGS)
+    if invalid_keys:
+        raise TypeError(f"Invalid perm name(s): {', '.join(invalid_keys)}")
     for perm, value in perms.items():
-        try:
-            attr = getattr(discord.Permissions, perm)
-        except AttributeError:
-            attr = None
-
-        if attr is None or not isinstance(attr, property):
-            # We reject invalid permissions
-            raise TypeError(f"Unknown permission name '{perm}'")
-
         if value is not True:
             # We reject any permission not specified as 'True', since this is the only value which
             # makes practical sense.
diff --git a/redbot/core/core_commands.py b/redbot/core/core_commands.py
index 31872df37..0cee0ce2c 100644
--- a/redbot/core/core_commands.py
+++ b/redbot/core/core_commands.py
@@ -319,7 +319,10 @@ class Core(commands.Cog, CoreLogic):
         python_version = "[{}.{}.{}]({})".format(*sys.version_info[:3], python_url)
         red_version = "[{}]({})".format(__version__, red_pypi)
         app_info = await self.bot.application_info()
-        owner = app_info.owner
+        if app_info.team:
+            owner = app_info.team.name
+        else:
+            owner = app_info.owner
         custom_info = await self.bot._config.custom_info()
 
         async with aiohttp.ClientSession() as session:
diff --git a/redbot/core/events.py b/redbot/core/events.py
index e72c505a4..c36874a6c 100644
--- a/redbot/core/events.py
+++ b/redbot/core/events.py
@@ -49,8 +49,13 @@ def init_events(bot, cli_flags):
         users = len(set([m for m in bot.get_all_members()]))
 
         app_info = await bot.application_info()
-        if bot.owner_id is None:
-            bot.owner_id = app_info.owner.id
+
+        if app_info.team:
+            if bot._use_team_features:
+                bot.owner_ids = {m.id for m in app_info.team.members}
+        else:
+            if bot.owner_id is None:
+                bot.owner_id = app_info.owner.id
 
         try:
             invite_url = discord.utils.oauth_url(app_info.id)
@@ -213,6 +218,12 @@ def init_events(bot, cli_flags):
                 ),
                 delete_after=error.retry_after,
             )
+        elif isinstance(error, commands.MaxConcurrencyReached):
+            await ctx.send(
+                "Too many people using this command. It can only be used {} time(s) per {} concurrently.".format(
+                    error.number, error.per.name
+                )
+            )
         else:
             log.exception(type(error).__name__, exc_info=error)
 
diff --git a/setup.cfg b/setup.cfg
index 4fb7d934e..6e43c7d6b 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -27,7 +27,7 @@ packages = find_namespace:
 python_requires = >=3.8.1
 install_requires =
     aiohttp==3.6.2
-    aiohttp-json-rpc==0.12.1
+    aiohttp-json-rpc==0.12.2
     aiosqlite==0.11.0
     appdirs==1.4.3
     apsw-wheels==3.30.1.post3
@@ -38,7 +38,7 @@ install_requires =
     Click==7.0
     colorama==0.4.3
     contextlib2==0.5.5
-    discord.py==1.2.5
+    discord.py==1.3.0
     distro==1.4.0; sys_platform == "linux"
     fuzzywuzzy==0.17.0
     idna==2.8
@@ -46,7 +46,7 @@ install_requires =
     python-Levenshtein-wheels==0.13.1
     pytz==2019.3
     PyYAML==5.3
-    Red-Lavalink==0.4.1
+    Red-Lavalink==0.4.2
     schema==0.7.1
     tqdm==4.41.1
     uvloop==0.14.0; sys_platform != "win32" and platform_python_implementation == "CPython"