In this guide, we will explain what buying out a business partner means, how to prepare to buy out a business partner, and more. 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.A buyout agreement outlines the procedure that must be followed if a member of your limited liability company (LLC) wants to sell his or her ownership stake. These Service Specific Terms are incorporated into the agreement under which Google has agreed to provide Google Cloud Platform. Discover how online advertising with Google Ads can help grow your business. Get customers and sell more with our digital advertising platform. An LLC member buyout agreement is the process of a member or owner leaving a Limited Liability Company.