HP could recoup much of its Palm purchase by selling mobile patents

HP(s hpq) is looking to sell off some or all of its mobile patent portfolio, which could recoup a sizable portion of the $1.2 billion the company spent to buy Palm in 2010. Bloomberg reported the news on Thursday, saying HP recently removed some restrictions from potential buyers, which will make the overall portfolio more attractive and valuable.

Although HP made mobile devices in the late 1990’s and early 2000’s based on Microsoft(s msft) Windows CE and Pocket PC software, the bulk of the mobile patents are likely from the Palm purchase. HP’s handling of the Palm brand, IP and devices are a business case-study of what not to do. If the company can gain back a bulk of its original investment in Palm, I’d call it a huge win considering all of the Palm webOS blunders it made.