Connecticut relinquished claim to some of its western lands to the United States in 1786 following the American Revolutionary War and preceding the 1787 establishment of the Northwest Territory. Despite ceding sovereignty to the United States, Connecticut retained ownership of the eastern portion of its cession, south of Lake Erie. It sold much of this "Western Reserve" to a group of speculators who operated as the Connecticut Land Company; they sold it in portions for development by new settlers. The phrase Western Reserve is preserved in numerous institutional names in Ohio, such as Western Reserve Academy, Case Western Reserve University, and Western Reserve Hospital.