Buying out a business partner is a complicated process. Learn the steps for a smooth business partner buyout.Our guide simplifies how to buy out a business partner effectively. It's not a calculation, it's a negotiation. Verbal agreements can be enforced, but it requires some kind of corroborating evidence (like email) or testimony. The formula involves ascertaining your former partner's equity stake, assessing the business worth, and determining the buyout sum. You'll need to: Talk with your partners; Get a business valuation; Find financing for your buyout; Draw up a buyout agreement. A buyout agreement is a binding contract between business partners that establishes the buyout details of one partner exiting the partnership. An LLC buyout agreement template provides a framework for the legal paperwork that makes up an LLC buyout agreement. In this article, we will explore the intricacies of partner buyouts, including the financing requirements for complete and partial changes.