In this guide, we will explain what buying out a business partner means, how to prepare to buy out a business partner, and more. Learn how to buy out a member in an LLC and create an LLC buyout agreement that protects your interests in this guide.Original signatures are required on the documents to complete the business partner application process. How can I expedite my business partner application? In this video, small business lawyer Sarah Holmes will guide you step-by-step on how to successfully buy out your business partner. Over that, Superior court has jurisdiction. All the partners must sign and fully execute all the applicable documents. A buy sell agreement is a legally binding agreement between business partners that explains the process of events after a partner leaves the business. Crafted Partnership Agreement should cover essential details, including: Partners' details and contributions.