Thinking about buying your boss’s business or taking over a client book? Before you sign anything, make sure you understand what you’re really buying. In this eye-opening article from Garza Business & Estate Law, we unpack the hidden legal and financial pitfalls that can turn a dream acquisition into a costly nightmare.

Through the story of Dave, a business owner who lost millions after buying what he thought was a “profitable book of business,” this article illustrates how easily things can go wrong when enthusiasm replaces due diligence. From non-transferable contracts and “phantom” clients to missing non-compete protections, poor client retention, and compliance missteps—these are the traps that sink even the most seasoned entrepreneurs.