I guess you have some form that can be called as the 'master' form, or a form that is most commonly used in your application and open during the whole lifecycle of it. In that form and all form related to it, you could have one context. That very same context can be used in all forms that are only showing read-only data as well. Please have a look into this KB article in order to see some best practices for implementing a pattern with such a long-living context.
For all forms that have some business logic and CRUD operations on their own, you must create a different context instance though. Creating a new context is not an expensive operation(only the first one would be expensive as some metadata information is calculated and cached then).
the Telerik team
Q1’11 SP1 of Telerik OpenAccess is available for download
; also available is the Q2'11 Roadmap
for Telerik OpenAccess ORM.