In this guide, we will explain what buying out a business partner means, how to prepare to buy out a business partner, and more. I'm going to show you what you need to do to start these wacky contract missions for your old pal franklin.The Tax Matters Member shall have the authority, following consultation with the Initial. You may obtain Form W-8 on the IRS website at IRS. Gov or call Franklin Templeton Shareholder Services at. This guide outlines the essential procedures for buying a stake from a business partner. These include creating the motivation behind the buyout.