Ideally, there will only be one object for each person, place, instrument, and company (noun/entity) in the system. Assigning objects in this way promotes the idea that an object is a “pivot point” to access ways of viewing an object. It also reinforces the “object as a repository of data” idea where you can drag and drop an object into a space and get one-click access to all data.
The point of this is to encourage you to merge new data in the system with existing entities.