This guide outlines the essential procedures for buying a stake from a business partner. These include creating the motivation behind the buyout.What should be in a Buy-Sell Agreement? Buying out a business partner is a complicated process. A buyout agreement is one of the most useful tools for preventing and resolving these types of partnership disputes. 1. The business partner completes eBusiness Partnership Agreement form. 2. A buyout agreement is a binding contract between business partners that establishes the buyout details of one partner exiting the partnership. The formula involves ascertaining your former partner's equity stake, assessing the business worth, and determining the buyout sum.