In order to comply with TRIPS agreement, India enacted the Geographical Indications of Goods (Registration and Protection) Act, 1999. The difference between a ‘Trade Mark’ and a Geographical Indication is/are: 1. A trademark is an individual or a company’s right whereas a geographical indication cannot be licensed. 2. A trademark can be licensed whereas a geographical indication is assigned to the agricultural goods/products and handicraft only. Which of the statement(s) given above is/are correct?