Oregon requires corporation names to include "Incorporated," "Corporation," "Limited," or an abbreviation of one of those. Is there any reason why a business owner might pick one over the others, other than simply preferring one of the names? E.g. does it matter if Bob's construction business is Bob's Construction Inc. or Bob's Construction Corp.?
Is there any significance to "Inc." vs "Corp."?
does it matter if Bob's construction business is Bob's Construction Inc. or Bob's Construction Corp.?
"Inc." is an abbreviation for "incorporated" and "corp." is an abbreviation for "corporation" which are really just different grammatical variations of the same word.
Limited is a term that can include both limited liability companies and corporations in some contexts, so this is less desirable if you want to make clear that you are a corporation rather than a limited liability company. Making the distinction between a limited liability company and a corporation is desirable because a 1099 has to be issued for payments to an LLC but not for payments to a corporation.
The word "company" is even broader and can be used to refer to any business firm regardless of its form of organization.
"Inc." or "Corp." or "Co.", etc. are required to be part of the name of the corporation under the law of the state in which the corporation is incorporated. It's a part of the legal name of the corporation. The purpose is to inform anyone dealing with the corporation that it is a corporation and not an individual person.