Learn the steps for a smooth business partner buyout. Our guide simplifies how to buy out a business partner effectively.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 you have an operating or partnership agreement with a buyout provision, you may be able to force your business partner to buy you out. In this ultimate guide, we will unravel the mysterious world of buyout agreements and show you stepbystep how to navigate them like a pro. Learn how to buy out a member in an LLC and create an LLC buyout agreement that protects your interests in this guide. What should be included in a buyout agreement? You'll need to: Talk with your partners; Get a business valuation; Find financing for your buyout; Draw up a buyout agreement. The agreement should specify how you will replace partners should they leave, as well as how to handle disputes between partners.