I am a bit confused about how the geometric brownian motion process is commonly defined.
On this reference it seems to imply that the $\mu$ and $\sigma$ are the mean and the standard deviation of the normal distribution where the logarithm of the ratios of consecutive points are drawn from:
$GBM(t) = e^{X(t)}$, where $X(t) \sim BM(\mu, \sigma)$ and BM is a brownian motion random process.
I also found other references which seem to define it as follows:
$GBM(t) = e^{X(t)}$, where $X(t) \sim BM(\mu - \sigma^2/2, \sigma)$
In case I am not missing something important, and there are indeed different ways to model this process, what is the most common?