In the event that a deceased, disabled, retired business owner or partner needs to sell their share of a business, a buy sell agreement helps prevent future problems. There are several plausible scenarios that might play out if your business doesn’t have a buy sell agreement. For instance, a former business partner’s spouse could become your co-owner, a bank might end up having a stake in your company, or your old business partner’s kids might become the newest members of your management team.