My question involves business law in the state of: Oklahoma

I recently completed a group project at my school at OU. The idea was all mine and I did about 70 percent of the work. The idea was so good that I would actually like to make it a official business. This Idea is a service that I would like to provide to other Oklahomans. My teachers says that I have to first have my other classmates sign off that they do not want to be apart of the project before I can work on it alone. Is this true? I have been able to get everyone to sign off except for this kid who really didn't help much at all.

Please help me... I don't want to be sued after I start this business... What if I change the name of the business and the startup location from the original plan?