Buyout Agreement: A legal document that outlines the terms and conditions of a transaction in which one party purchases a stake in a business from the other. When drafting a buyout agreement, you should be sure to address specifics pertaining to your business and what will happen upon the departure of an owner.In this ultimate guide, we will unravel the mysterious world of buyout agreements and show you stepbystep how to navigate them like a pro. In this article, we will explore the intricacies of partner buyouts, including the financing requirements for complete and partial changes.