Given the google rank on the above excellent answer, I think there is one thing that should be noted, and I can't seem to leave a note after the answer.
Continuing with the example, if you plan on using www-data as owner and dev-fabrikam as group with 570 permissions on the directory (or file), it is important to note that Linux ignores setuid on directories, so all new files will be owned by the user that created them. This means that after creating new directories and files you will have to use something similar to:
chown -R www-data /newdirectory/
chmod -R 570 /newdirectory/
In Ubuntu 12.04 for Rackspace OpenStack, I had an odd issue where I could not get permissions 570 to work until I rebooted the server, which magically fixed the issue. Was losing hairs at an increasing rate over that seemingly simple issue....