Why are companies called labs?

Why do some companies choose to be called "labs" instead of traditional corporate names? Is it a marketing ploy to appear more innovative and cutting-edge? Or does it reflect a genuine commitment to research and development, fostering a culture of experimentation and creativity? Could it also be a way to attract talent, signaling to potential employees that they'll be working in an environment that encourages growth and learning? Additionally, does the "lab" moniker allow for more flexibility and agility in adapting to market changes, as opposed to the more rigid structures of traditional corporations?