Learning from the mistakes of the earlier Bergen Greenland Company and the relative success of Jacob Severin's operation on the island, the company received a full monopoly on trade around its settlements and armed ships flying the Danebrog to prevent better-armed, lower-priced, and better-quality Dutch goods from bankrupting the enterprise.
[1] The GTC received Hans Egede's Godthaab; the Moravian missions Neu-Herrnhut and Lichtenfels; and Severin's trading stations at Christianshaab, Jakobshavn, and Frederikshaab.
The General Trade Company was granted a monopoly only within a certain radius around its settlements and therefore undertook a campaign to expand the number of trading posts along the west coast[2] as swiftly as it could profitably do so: Claushavn in 1752, Fiskenæsset in 1754, Ritenbenck and Egedesminde and Sukkertoppen in 1755, Holsteinsborg in 1756, Umanak in 1758, Upernavik in 1771, Godhavn in 1773, and Julianehaab in 1774.
[1] The same year as the foundation of Julianehaab, 1774, the [General Trade Company] folded, although for reasons unrelated to the profitability of its operations in the colony.
[1] It was replaced by the Royal Greenland Trade Department (Kongelige Grønlandske Handel, KGH), a state company which maintained control of the colony for the next century and a half.