Ubuntu 12.10: Disable touchpad of Lenovo Thinkpad

Thinkpads come with a red-dot mouse option, as well as, the standard trackpad. I love the red-dot because I do not need to move my fingers all around to trackpad to move the mouse. I feel more comfortable using the red-dot as the mouse. But problem is that when you use the red-dot, quite-often than not, your palm touches the trackpad which will cause sudden movements in the mouse. I wanted a way to disable the trackpad completely and only use the red-dot as the mouse.

Fortunately, I found this tutorial on the web. Following it was a breeze, and I was able to quickly disable the trackpad.