King Henry VII of England, keen to strengthen England's position in maritime exploration, granted letters patent to John Cabot and his sons on March 5, 1496. The letters patent served as a form of royal permission, empowering Cabot to undertake voyages across the Atlantic in search of unspecified territories and opportunities for trade. As an Italian-born navigator living in England, Cabot had developed strong enthusiasm for exploration, inspired by the successes of other European navigators during the Age of Discovery, such as Christopher Columbus who had sailed under the Spanish flag just a few years prior. Cabot's mission was not only an endeavor for personal ambition but also intended to benefit the English crown by potentially establishing new trade routes that could rival Spain and Portugal, who were dominating exploration efforts at the time.

The letters patent included specific terms aimed at colonization and trade, which reflected the increasing competition among European powers for territorial expansion and economic supremacy. Cabot's expedition was marked by his notable attempt to reach Asia via the west, however, his actual journey resulted in the discovery of parts of North America, which paved the way for future English colonization efforts in the New World. His first voyage in 1497 resulted in landing at a place believed to be the coast of Newfoundland, marking an important moment in English maritime history.

This exploration not only established new maritime routes for England but also contributed significantly to the mapping of North America. Cabot's ventures were crucial components of the broader narrative of exploration during this era, fundamentally altering the geopolitical landscape and setting the stage for later colonial endeavors driven by England.