Sometimes business partnerships just don't work out. In this article, we'll cover what you should know about a partner buyout.You may use the conventional partnership buyout calculation to estimate the value of your partner's share in the business. An LLC buyout agreement is an agreement between the members of an LLC about what will happen if a member wishes to leave. Buying out a business partner is a complicated process. This guide outlines the essential procedures for buying a stake from a business partner. Research the Value of Your Partner's Stake. To reach a fair buyout agreement, you must understand your partner's stake in the business. Business value is typically based on what an arms length buyer would pay for the business if they wanted to buy.