MS-Dos FAT has become the default protocol for filesystem configuration on 
  devices moved between different OS/filesystems.

  However, it has a number of limits including :
    Maximum storage capacitiy 4GB.

    Individual file sizes at 2GB.

    Limited permission control.


UDF - universal disk format
  Primarily for CD/DVD/BluRay data disks. But can be used on other storage
    to get around FAT filesysem limits. 

  Supported by several current popular OSes (>1995).
    (wikipedia: universal disk format)
 
  Filesize 16EB (exabyte 10^18 or 2^60)

  255 byte filename, 1023 byte path

  Unicode characters.

  Posix (unix style) permissions (ownership, read/write/execute, etc)