A buyout agreement outlines how one partner can purchase the leaving partner's shares in the collectively owned business. If you're planning a buyout, getting a buyout agreement in place is essential.But how do they work exactly? Building a Strategic Partnership: U.S.-India Relations in the Wake of Mumbai. Reach a new agreement regarding duties, compensation, and share ownership. Learn how to initiate a buyout agreement effectively with this comprehensive guide. Making the growth case for India involves answering one key question: How can India differentiate itself from China?