Buying out a business partner is a complicated process. You may use the conventional partnership buyout calculation to estimate the value of your partner's share in the business.This guide outlines the essential procedures for buying a stake from a business partner. These include creating the motivation behind the buyout. In this video, small business lawyer Sarah Holmes will guide you step-by-step on how to successfully buy out your business partner. A) Submitting an RFP exemption, which will result in an award recommendation to Precision Industrial. Students who apply for credit flexibility shall fill out the appropriate form on the District website.