Learn how to initiate a buyout agreement effectively with this comprehensive guide. In this guide, we will explain what buying out a business partner means, how to prepare to buy out a business partner, and more.In this ultimate guide, we will unravel the mysterious world of buyout agreements and show you stepbystep how to navigate them like a pro. Learn how to buy out a member in an LLC and create an LLC buyout agreement that protects your interests in this guide. Buyouts happen for a host of reasons: performance, divergent goals, or one partner's unwillingness to take on more responsibility. If you are hoping to force your business partner to buy you out, the best thing you can do is carefully read through your operating agreement.