In this guide, we will explain what buying out a business partner means, how to prepare to buy out a business partner, and more. An LLC buyout agreement template provides a framework for the legal paperwork that makes up an LLC buyout agreement.Learn how to finance a business partnership buyout so you can transition ownership as quickly as possible. Nevada small business partnership contract draft copy is available for free. Download this partnership agreement template and print PDF for instant use. A buyout agreement is a binding contract between business partners that establishes the buyout details of one partner exiting the partnership. Learn how you can make a business partnership agreement for your LLC in Nevada through this guide.