To buy out a business partner, take these steps: 1) Determine what you're buying, e.g. , customers, inventor, customers, intellectual property, etc.If your business partner refuses to buyout your share of the business or sell his or her share, you have the option to dissolve the partnership. The ability to buy out a business partner largely depends on the structure of the partnership and the terms in the partnership agreement. Your agreement should address when a partner can or must be bought out of their partnership interest and the procedure to buy out the partner. Easy-Fill: Fill out the form online, then print and mail it to CSLB. PDF: Print a blank form, then fill it out and mail it to CSLB. Partnership Agreement Attorneys in California. Knowledgeable lawyers in Pleasanton, CA draft terms for business associations.