In the present study, we used Thompson’s Derwent Innovation Index to retrieve patent data for the strings and over the search time span from January 2000 to December 2012. The data retrieved on the total number of patents published on graphene during the years 2000–2012 was approximately 2,306 patents; thus, in a span of two years (2010–2012), compared to the results of Shapira et al. (2012), a strong jump occurred of nearly 1,395 patents. The results for the second search on graphene nanocomposites patents published during 2000–2012 retrieved only 80 records. Both searches showed that, during 2000–2007, there were no records of published patents on graphene and graphene-based nanocomposites. This can be attributed to the onset of trials to investigate the commercial importance of graphene in modern industry, with many researchers carrying out various trials to demonstrate high-end applications that are likely to become available in the forthcoming years. We also conducted a cumulative search to see the trends and competition among the standalone graphene patents and graphene-based nanocomposites during January 2000–December 2012.