My understanding is that a patent application and a patent pending are two different patents used by inventors. The company can not claim patent applications without actually have filed them, IMO.
It can be a long process of reviewing drawings, requesting additional info, ect but they can move forward on sucuring financing or R&R as there idea has some protection merely by the submission of an application.
Ownership of ideas is typically awarded to the patent application that was filed first when two people attempt to get a patent for the same idea.
Hope that helps!
Please give me a follow!