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Nicholas Campion from 1st Formations discusses the importance of articles of association in this episode of Whiteboard Thursday. He emphasizes that all limited companies in the UK must have articles of association, which serve as the main constitutional document. These articles are adopted during incorporation and outline the rules and regulations for the company and its officers. Campion will also address Model articles and briefly touch on the memorandum of association. The video aims to clarify the necessity and purpose of these documents in business operations. Viewers are encouraged to like and share the video if they find it useful.