An experienced Chicago business lawyer can help draft a buy-sell agreement that gives the proper considerations needed to protect your largest investment. It's a formal agreement that sets the conditions, terms, and mutual commitments between parties.In this ultimate guide, we will unravel the mysterious world of buyout agreements and show you stepbystep how to navigate them like a pro. The two primary types of buy-sell agreements are cross purchase and redemption agreements, each with its unique structure and implications. Setting up a proper buysell agreement is key to mitigating conflict when a stakeholder wants to leave the family business. A buyout agreement is a binding contract between business partners that establishes the buyout details of one partner exiting the partnership. These forms are also available in the DotLoop and DocuSign form libraries. The answer to these questions will inform everything from buyout structure and financing to conducting valuations and outsourcing expertise.