That thread has been done already and went over 10 pages if i remember. simple rule is ws your companion there during the fight? If no why should he get a chance for the item if some who was there needs.
OT i agree there should be at the very LEAST an option for a loot rules set to "Need before Greed". So if it isnt your class all you can do is greed on it, ive lost a few peices while leveling to this but i was leveling so not too big of an issu. however when max level i can see it becoming very irritating.