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Are you talking about sub-domains? If so then Google treats sub-domains as separate sites from the main domain so google sees domain.com as one site and sees mynew.domain.com as a second site, SEO would then be effected by what you do on the separate domain. If you duplicate your content from your main domain and then place the same content on each sub-domain you may get a duplicate content penalty. You can see Sub-domains in use on many large sites where they split the forums off from the main site (forums.mysite.com and ww.mysite.com) as well as places such as the free blogging services thumblogger and blogger where everyone is assigned a unique sub-domain name to identify their blog.
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