I feel my idea/Business Model may become a real company and the “next killer app” and I want to own it myself. What should I do?

This is more than likely the wrong class to take. Your slides, notes and findings will be publicly shared. Your team owns everything done in class. Discuss Intellectual Property rights with your team from the beginning. If you can’t come to agreement with the team, join another team, pick another project, or drop the class. Remember anything you do and learn in the class is public.