We investigate the simplest models where baryon and lepton numbers are defined as local symmetries spontaneously broken at the low scale and discuss the implications for cosmology. We define the simplest anomaly-free theory for spontaneous baryon and lepton number symmetry breaking which predicts the existence of lepto-baryons. In this context, we study the new sphaleron condition on the chemical potentials and show the relation between the present baryon asymmetry and the B – L asymmetry generated in the early universe. The properties of the cold dark matter candidate for which stability is a natural consequence from symmetry breaking are briefly discussed