Yes. Demigod is a single-liscence, ulimited LAN-copy game. That is, as long as you have one legitimate serial key you're entitled to play it on as many different LAN computers as you want.
This does not, however, support VPN (like Hamachi) copies. Like someone complained a few posts above this one... Demigod is not intended to support VPN connections as part of the 'unlimited copy'.
To create LAN copies, just update Demigod, copy-paste the Demigod folder from your Program Files onto a USB stick (or burn onto a DVD) and then have everyone copy it into their Program Files, open it, then enter your impulse email account and Demigod's serial key (which can be found in Impulse). That's all you need!