The fileshare location you provided is invalid or inaccessible (4277271)

Symptom

The following error may occur during the File Share Librarian configuration:

The issue may occur if the SharePoint farm administrator, SharePoint Timer service account and the application pool identity do not have the following permissions:

• Read/Write or full permission on the file share
• db_owner role on the StoragePoint database

Ensure that the SharePoint farm administrator, SharePoint Timer service account and the application pool identity have the required permissions listed above. Also, make sure that the permissions are given to each account explicitly and not through a group.