That's not _this_ problem. Guns n' Roses, the Eagles, etc (or someone assigned by them) owns the rights to the score, lyrics, and recordings of performances. These are separate copyrights. If you cover their song, you may still be infringing on their copyrighted lyrics, score, and arrangements.

I'm talking about compositions to which nobody has any rights to any part of (a recording of a performance can still have a copyright).