"Intellectual property (IP) is intangible property that is the result of creativity and innovation and which can be owned in a similar way to physical property. In the University context, IP can be viewed as the results and outcomes of research. As with other property, there may be commercial value in IP, which may be realised via various routes, including licensing or selling intellectual property rights (IPRs). " - University of Oxford
As a student, you need to understand what IP is, who owns it, and what can be done with it before proceeding with an idea. Here's where to find some help:
IP and the University of Oxford. The University of Oxford's IP Rights Management Team can provide advice on the IP policy. The team at Oxford University Innovation can provide advice on how IP can be used in starting a company.
Non-disclosure agreements. NDA's are useful if you are concerned that any discussion may put your IP at risk. The IPO has free downloadable templates and advice.
Patent Costs. If you want to understand patents and what costs are involved, check out this great article by Dehns.