For the purposes of the Performing Rights Society it doesn't...They recognise two original versions (they have to always split songs for royalties purposes..money goes to both writer and performer)....The original version of a song is the one that the songwriter(s) do(es) when it is finished regardless of the intent of the songwriter to commit it to tape himself...the next "original" version is the first commercially recorded and released version of the song....This used to be a very close run thing in the fifties with a few major artists all recording and releasing the same songs within a matter of days....Wouldn't it be fun to have Will Young, G--G--Gareth G--G--Gates and maybe Darius Danesh all do the same song and let the public decide who did the best version??
PS Pete Waterman if you're reading this I have copyright on that idea !!!