This is the quote from the Books Inc website that started the inquiry:
"Setting Up Your Kobo Account
1. If you buy a Kobo device from Books Inc., our affiliate ID is hardcoded into the device and the account you open with that device is linked to www.booksinc.net.
2. If have an existing Kobo account and enter that account through www.booksinc.net, please open a new account – your old account is not linked to Books Inc. You need to open a new account when entering through our website.
If you do not see the Books Inc. sun in the Kobo portion of the website, you are not in our affiliate.
3. If you have two Kobo accounts (a previous account and one you open through us) you do not lose books – you just see only the books you bought on each account."
I did not note a similar passage from Powells.com