Learn the steps for a smooth business partner buyout. Our guide simplifies how to buy out a business partner effectively.A buyout agreement outlines how one partner can purchase the leaving partner's shares in the collectively owned business. It's imperative that you and your partner have an open discussion about buyout expectations as early in the process as possible. 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 guide, we will explain what buying out a business partner means, how to prepare to buy out a business partner, and more. If your business partner disputes the validity of the buyout agreement or refuses to buy out your interest, you can take legal action. Learn how to buy out a member in an LLC and create an LLC buyout agreement that protects your interests in this guide.