Questions About Factions

I have a few questions about how factions work and interact with the economy and so forth. I've been poking around a bit but not enough to get a clear picture of how factions work. So some of these questions may have obvious answers or are included in the design discussion somewhere I'm not aware of.

- What do the names of the factions mean? Do some of them have specific characteristics?
- So far, most of the factions I've seen seem to be system specific, or are at least named that way. (I'm out in the middle of nowhere, so that may influence things.) Are there any factions that span multiple star systems? Or factions that have relationships with factions in other systems?
- Are there any plans for displaying more information about factions? Right now I mostly just know about the names on the bulletin boards.
- How does reputation with a faction work? I know I can view it when I'm in-system on the right panel.

Forgive me if some of these are obvious. I did a quick search, but this is the closest I've found to a discussion on it so far.

Edit: I intended to put this in the Features forum.
 
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