7? That must deserve a place in the Guiness Book of World records.....
as Roaming stated, you are OK. From the iTunes Store agreement
"If you are an individual acting in your personal capacity, you may download and sync an App Store Product for personal, noncommercial use on any iOS Device you own or control."
In that case, here is the applicable section from the iTunes Store agreement...
If you are a commercial enterprise or educational institution, you may download and sync an App Store Product for use by either (a) a single individual on one or more iOS Devices used by that individual that you own or control or (b) multiple individuals, on a single shared iOS Device you own or control.
So the way we have interpreted this is that each user( in a business) requires a separate iTunes account, though if the user had multiple devices that only he or she used, they need just one account for those devices. If you are an educational institution you can check out the iOS 5 Education Deployment Guide. Educational organizations have some different options.