Buying out a business partner is a complicated process. This guide outlines the essential procedures for buying a stake from a business partner.These include creating the motivation behind the buyout. You need a buysell agreement when starting a business with a partner? Review the LLC operating agreement. If your business partner disputes the validity of the buyout agreement or refuses to buy out your interest, you can take legal action. General Questions: What types of entities are on file with the Corporations Division? What type of entity should I form? In this article, we will explore the intricacies of partner buyouts, including the financing requirements for complete and partial changes. Ensure a smooth transition during business dissolution with a partnership buyout agreement.