This book has a fillintheblank buyout agreement and instructions on how to incorporate it into your partnership agreement. In this guide, we will explain what buying out a business partner means, how to prepare to buy out a business partner, and more.Learn how to finance a business partnership buyout so you can transition ownership as quickly as possible. Buyout Agreement: A legal document that outlines the terms and conditions of a transaction in which one party purchases a stake in a business from the other. Before any legal or financial considerations are considered, it's important to consider the buyout comprehensively. Why is a buyout necessary? Buying out a business partner doesn't have to be stressful or complicated. Read this guide to see how you can carry out the process with ease. Buyout agreement terms, specifying the process and timeline for completing the sale of partnership interest. Negotiating Withdrawal Terms.