The Licking Company consisted of real estate speculators. These men hoped to buy unimproved or undeveloped land in Ohio relatively cheaply and to sell it at a profit.
While real estate speculators had long desired to profit from the land encompassing modern-day Ohio, with America's victory in the American Revolution, a number of new companies arose, seeking land in the Ohio Country at relatively low prices from the federal government. Some of these new organizations included the Ohio Company of Associates, the Scioto Company, the Connecticut Land Company, and the Licking Company. Many companies made large profits from these ventures. Other investors lost their fortunes when settlers did not purchase the land that the investors bought with borrowed money. Due to inaccurate surveys, some of these men and organizations claimed the same land or sold the same parcel of land to more than one person. During the late 1700s and the early 1800s, many of the court cases in the Northwest Territory and then the State of Ohio involved land disputes.
In 1805, the Licking Company founded Granville, Ohio. The Licking Company consisted of real estate speculators from Granville, Massachusetts and Granby, Connecticut. With the Licking Company being located in New England, many early settlers of this community came from the northeastern portion of the United States of America. Still today, Granville has a distinctly New England character. Like their ancestors before them, the Licking Company investors and Granville's first settlers viewed the American frontier, including Ohio, as a land of opportunity.
- Utter, William T. Granville: The Story of an Ohio Village. Granville: Granville Historical Society 1956.