In order to comply with TRIPS Agreement, India enacted the Geographical Indications of Goods (Registration | Protection) Act, 1999. The difference/differences between a “Trade Mark” and a Geographical Indication is/are

The correct answer is B because of the following reasons: Statement 1 is correct. A Trade Mark is a visual symbol used by a business to distinguish its goods or services from others. It is an individual right owned by a specific person or company. In contrast, a Geographical Indication is used to identify goods as originating from a specific territory or region where a given quality or reputation is attributable to its geographical origin. Statement 2 is correct. A Trade Mark is a private property right that can be licensed or assigned to anyone, anywhere, regardless of their location. However, a Geographical Indication is a collective right belonging to a community of producers in a specific region. It cannot be licensed to someone outside that region because the quality is tied to the specific location. Statement 3 is incorrect. Both Trade Marks and Geographical Indications are granted for a fixed period and are renewable. Under Indian law, a Trade Mark is registered for 10 years and can be renewed indefinitely. Similarly, a Geographical Indication is also registered for a period of 10 years and can be renewed for further periods of 10 years each. There is no concept of a GI being granted for infinity without renewal. Since statements 1 and 2 are correct and statement 3 is false, option B is the right choice.