Geographical Indications are mechanisms of intellectual property, qualitative differentiation and territorial development that are receiving increasing attention in Brazil. This paper analyzes the process of governance and institutionalization of this mechanism. From qualitative research conducted through documental review, participant observation of decision spaces, and interviews with policy makers and stakeholders, the paper identifies the multiple actors in the governance of GIs, defines their positions in different forums and typifies the referentials that guide their speeches and practices. From this, and taking into account the characteristics of the Brazilian institutional context, it discusses the different participatory governance alternatives that have been proposed as spaces of mediation and building of compromises between public and private organizations.