I see that ubuntu has teamspeak-client and teamspeak-server in the software repos. Did you attempt the installation from the software center or did you attempt you installation through another method?
Also are you referencing teamspeak server or client?

When checking the ubuntu package repo I found that there are packages for both(http://packages.ubuntu.com/search?keywords=teamspeak&searchon=names&suite=lucid&section=all), to install either you can go into the software center and search for teamspeak.

Please let me know if you have already made it that far and need help with the configuration.