Master Items, Customer Info can be shared across Operating Units..?

Dear All,
I need to create a different Operating Unit having a different Legal Entity, under the same Business Group.
In this case, can the newly created Operating Unit's Organizations can access the Master Items, customer Info, Vendor info etc..?
Please update...

you may need to have a look at Oracle's "Master Data Managment" suite of products
http://www.oracle.com/us/products/applications/master-data-management/index.html
Oracle's enterprise master data management (MDM) suite of products consolidates and maintains complete, accurate, and authoritative master data across the enterprise and distributes this master information to all operational and analytical applications as a shared service.
Oracle's suite of products for enterprise master data management is the most complete MDM offering on the market. MDM applications manage customer, supplier, product, and financial data with data governance services and supporting world-class integration and BI components
If you need more info, get in touch with me at kamal dot shah at yahoo dot com
cheers
kamal

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