As there are going to be 3 Qa areas, and to get from one Qa to another you have to travel through high pvp area, the addition of 3 Factions would be convenient and i think awesome.
My idea of a Faction - Each Faction has a number of ranks you can achieve. Could be any amount. Lets say for example 13 ranks in each faction. To gain rank in the faction, you complete missions for AI at those areas. You can only be in One faction. Gaining rank is a curve, just like skilling. The factions have their own bonuses or "perks" to membership. Example: Faction A- slightly better weapons. Faction B- slightly better equipment and mining gear, Faction C- idk. health kits and armor? (just examples).
As you gain rank, you "unlock" being able to purchase faction equipment/gear. Only those with the required rank can use it.
Societies and Corporations can choose to be "aligned" with a Faction, (and recieve some sort of small perk), (in which case their members would have to be in no faction, or that faction) OR they could be aligned "neutral" so their members could be in any of the 3 factions or no faction.
This can introduce limitless ideas and possibilities for the future, as well as lots of Storyline to the game. There could even be "Faction Wars" in the future.