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In this episode of Whiteboard Thursday, Nicholas Campion from 1st Formations discusses the importance and necessity of articles of association for limited companies in the UK. He explains that these articles serve as the main constitutional document, defining the rules and regulations that the company and its officers must adhere to. Additionally, he introduces the concept of Model articles and briefly touches on the memorandum of association. Campion emphasizes that all limited companies must have articles of association, which are adopted during the incorporation process. He encourages viewers to like and share the video if they find it helpful.