Business partner being sued, is my company (the one we currently own together) at risk, if so what should I do to protect myself

Assuming you mean that your partner is being sued individually, if the plaintiff gets a judgment against him individually, then the plaintiff can attempt to collect on the judgment. A plaintiff attempting to collect on a judgment will typically try to find out what the judgment debtor's assets are. Your partner's ownership interest in your company is an asset, and it could be "taken" by a judgment creditor. That possibility is probably very remote at the present time; however, you should consult with an attorney for the answer to the question of how to protect your business.

Waiting until there's a Lawsuit to do Asset Protection is like waiting for one's house to catch on fire before buying a fire extinguisher and increasing the fire insurance policy. In this case, you personally are 'Probably' Okay. After all, the basis of the lawsuit occurred years BEFORE you started the current business. However, on his part the ownership he has in the current business is an 'Asset' which the Plaintiff may want to look into assuming the Plaintiff wins the Lawsuit. If I were you I'd consult with the Florida-licensed Business Law attorney right away to sort out your own best options and to discuss any risks as to your joint business activity. Good Luck!

Couldn't agree more with the other answers provided. Based on the insufficient facts presented, your only concern is likely whether you will be forced to become partners with your partner's creditor. This is precisely why you want to engage in asset protection planning.

Couple of additional points to add to the advice already provided - What is potentially at risk is your partner's right to profits and distributions from your business. If the person sueing your partner gets a judgment, at that point, the creditor could look to collect the judgment by attaching assets of your partner which may include whatever money he/she gets from your business. If you are not a party to the suit for breaking the lease, then your share of the profits shouldn't be at risk. The last thing a judgment creditor probably wants (or has a right to) is to be a partner running your business. A lot may depend on what form of entity your business is operating as and other considerations which a lawyer can best advise only after speaking with you to get more of the facts.