Party spokesperson Shahnawaz Hussain said there were several political parties in the country and anyone could float a political outfit.
"The constitution of India gives everyone a right to form political party," Hussain told IANS.
Asked if a political party floated by Team Anna will succeed, he said it was for the people to decide.
"It is in the hands of people of this country," he said.
Team Anna has repeatedly targeted Congress-led United Progressive Alliance government on the issue of corruption by seeking a strong Lokpal bill. It has also demanded setting up of special investigation team to probe charges of corruption against some ministers in the government.
The BJP, which is the main opposition party in parliament, has looked with glee at anti-corruption campaign of Team Anna in hope of reaping electoral dividends, but has cautioned the civil society activists against painting all MPs with the same brush.
The party is likely to spell out its stand in more clear terms in the next few days if Team Anna decides to float a political party.
Anna Hazare and his team announced Thursday they would call off their indefinite fast against corruption at Jantar Mantar Friday evening and proposed forming a "political alternative" as an answer to an "unresponsive" government.