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In this episode of Whiteboard Thursday, Nicholas Campion from 1st Formations discusses the articles of association, their necessity, and purpose. All limited companies registered in the UK are required to have articles of association, which serve as the main constitutional document, outlining the rules and regulations that must be followed by the company and its officers. The segment also touches on Model articles and the memorandum of association. Campion emphasizes the importance of understanding these documents for proper business functioning. Viewers are encouraged to like and share the content if they find it useful.