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