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In this episode of Whiteboard Thursday, Nicholas Campion from 1st Formations discusses the importance of articles of association for limited companies in the UK. He explains that all registered companies must have these documents, as they serve as the main constitutional framework established during incorporation. The articles outline the rules and regulations governing the company and its officers. Additionally, Nicholas briefly mentions Model articles and the memorandum of association. Overall, the video aims to clarify the necessity and purpose of articles of association for business operations.