Parent-child relationship in MS Dynamics CRM Online

 Hi,

Is it possible to create a parent-child relationship for an organization and its business units in CRM Online?

Scenario:
- Our organization is ABC, and it has business units abc-1, abc-2, and abc-3.
- There is strong possibility that the parent ABC itself and any of its business units are working on the same Customer XYZ to sell their seperate products/services.

Objective:
- To avoid creating seperate accounts for the same Customer.

Is it possible that the Parent ABC and childs abc-1, abc-2 etc. can use the same Account to add their opportunities, contacts, etc?

If yes, how?
If not, then what could be the solution?

Thanks in advance.