You may use the conventional partnership buyout calculation to estimate the value of your partner's share in the business. Buying out a business partner is a complicated process.In this video, small business lawyer Sarah Holmes will guide you step-by-step on how to successfully buy out your business partner. This guide outlines the essential procedures for buying a stake from a business partner. These include creating the motivation behind the buyout. A buyout agreement lets you plan what'll happen when a partner leaves the business. Profits and losses may be shared according to any formula on which the partners agree.