The purpose of this paper is to extend to Hardy spaces in several variables certain well known factorization theorems on the unit disk. The extensions will be carried out for various spaces of holomorphic functions on the unit ball of C as well as for Hardy spaces defined by the Riesz systems on R. These results together with their proofs yield new characterizations of the space BMO (Bounded Mean Oscillation) and show a close relationship between BMO functions and certain linear operators on various LI and H2 spaces. The main tools are the result of Fefferman and Stein [8] on the duality between HI and BMO and a new characterization of BMO in terms of boundedness on L2 of the commutator of a singular integral operator with a multiplication operator. We begin by illustrating these ideas in the one dimensional case: Let F be holomorphic in {I z I < 1} and satisfy sup, 5 F(rete) I dO ? 1 (i.e., F is in H'(dO)). It is well known that F = GG2 with G1, G2 holomorphic and sup, I G,(rel0) 1' ! 1 (i.e., G, e H2(dO)). Write F = f + if, G, = gj + ig withf, g1, g, real. Thenf = Im(GG2) = sg1 1 + gi. Thusafunction f is an imaginary (or real) part of an HI function if and only if it can be represented as glg2 + g192 for L2 functions g, and g2. Furthermore,
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