When someone creates a faction on their own everything done must be produced by them and it is considered unofficial as it will not have its own category in that area.
If someone were to create their own guild they would need to provide rewards from their own account, clients from their own account, and such along with ribbons and bags if they plan to do so. It will not be acknowledged as a real guild in terms of going to the sacred lands however. It will also not be required to be maintained by the board updaters, and all things like bulletin boards or records for that guild to hold the missions must be placed in Free Chat
Victoria's Kingdom is just an alliance of characters really, pretty much just saying they all know each other and give someone a purpose to a character that's unique and different from the normal guild and outlaw lifestyle.