Several years ago, I remember watching a talk by Evan Nappen (a attorney that specializes in knife and gun law in NJ) and he said that there was case law that standard one-hand-opening knives (he showed a Sebenza as an example) require no additional justification. Or, to put it differently, that the burden of proof was on the state to demonstrate that carrying that knife was inappropriate under the circumstances associated with the case. I can't seem to find that talk, and it has been several years so things may have changed, or I simply misunderstood his point, so use this information at your peril (as Mr. Nappen likes to characterize NJ gun/knife laws). If you want a more definitive answer, seek counsel with an attorney.
Personally, I mostly stick to SAKs but I have a couple of modern folders, including a (non-assisted) flipper, that I also carry. I'm very much conscious of where I'm going when selecting which knife goes in the pocket. The modern folders are fine on my daily walks as I live in an area with plenty of wild animals and, unfortunately, some a******** tend to leave their dogs out or walk them without a leach. Not for self-defense of course, but as a tool... When going to any kind of establishment, I only carry SAKs.