Do i create a new lv ?

Currently directory /home/apps/fs_1 on both servers A and B is mounted on /dev/hd1.
I am assuming it should have separate filesystem, with its own lv as fs_1_lv to which /home/apps/fs_1 should be mounted, am I correct ?
For Example:

Server A:
Filesystem     GB blocks      Free %Used    Iused %Iused Mounted on
/dev/fs_2_lv         5.00      4.98    1%       82     1%    /home/apps/fs_2
Server B:
Filesystem     GB blocks      Free %Used    Iused %Iused Mounted on
/dev/fs_2_lv         5.00      4.99    1%       29     1%    /home/apps/fs_2

What's wrong with that?
You have 2 servers, each have a rootvg with lv on them... /dev/hd1 is usually /home...as you would see /dev/hd6 is paging space etc...
I do hope they have their own boot disks and not sharing them...

The issue is whether they need to be on a file system separate from the default filesystem /home .

If this is application data, especially if it needs to be considered separate from "user" data, it should be a separate file system - and this implies a new logical volume.

IMHO: since you are asking I think the simple answer is: yes .