In this instance it is both the namespace and the assembly name. I kept them the same for this solution.
Just as a point of structure I am implimenting this solution as a six project solution
DataLayer : Connection to SQL for reads/Writes
DataTransfer : Converts Data Objects to a common format shared with all other Layers
Interop : Funnels traffic into and out of Data layer
Operaton : Business Rules Engine
Implimentation : Groups all the calls into "ready to use calls" for UI application or Service use
Service : one line service calls that are a pass through to the Implimentation layer
The Assembly name and default namespace is FullLifeCycle.SiteData.LayerName
With the exception of the Implimentation project there is no need for sub folders / namespace paths.
As a result all objects are located in the root of the namespace/Assembly