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The village is also the ancestral home of the famous Norfolk family of Gresham, whose members included Sir John Gresham, founder of Gresham's School, and Sir Thomas Gresham, founder of Gresham College and the Royal Exchange.
Around 1612, it appears that Sir Thomas Gresham owned some of the land, having received it as a gift from Queen Elizabeth I.
However the more popular name of Gresham Ship was introduced when the guns on board the vessel revealed a grasshopper insignia, which was the motif made by Sir Thomas Gresham, founder of the Royal Exchange.