Download our free Partnership Buyout Agreement template for your business needs. Simply fill out our contact form, and one of our experts will get in touch with you soon.Learn why a business partnership agreement is important, what you should include in your agreement and how to create an effective one. This guide outlines the essential procedures for buying a stake from a business partner. These include creating the motivation behind the buyout. Do both applicants need to be present to obtain a formal marriage license? Yes, both applicants must be present with an original form of ID for each applicant. Travis Ferguson is an experienced litigator with first-chair trial experience who helps clients resolve complex business disputes. A partnership buyout agreement lets you plan what will happen when a partner leaves the business.