To buy out a business partner, take these steps: 1) Determine what you're buying, eg, customers, inventor, customers, intellectual property, etc. Edit, sign, and share buyout agreement template online.No need to install software, just go to DocHub, and sign up instantly and for free. A buyout agreement lets you plan what'll happen when a partner leaves the business. The ability to buy out a business partner largely depends on the structure of the partnership and the terms in the partnership agreement. The text 'Using Microsoft Word for templates offers the advantages of a user-friendly interface, versatile formatting options, and compatibility with a wide range of document types, simplifying the creation of professional and customizable documents. Use a California business purchase agreement to record the sale of a business. Download your free template today. In this guide, we will explain what buying out a business partner means, how to prepare to buy out a business partner, and more.