First, realize that about twenty years ago now, the Oregon Supreme Court ruled that the Oregon Constitution's guarantee of the right of citizens to keep and bear arms is to be interpreted most liberally and most inclusively. Keep in mind that the 2nd Ammendment to the US Constitution is clouded. But, Oregon's rings crytal clear. So, that sort of sets the tone for all legal questions surrounding knives in Oregon. As a result, it is perfectly legal to manufacturer, buy, sell, own and even carry any knive including a gravity knife, switchblade, or balisong in Oregon. Even balistic knives are not illegal under state law, but Federal law does enter in there.
Second, keep in mind that balisongs are not federally illegal. A Federal appeals court has ruled that the Federal Switchblade Act does not apply to balisongs. It is federally illegal to import balisongs knives into the US, but that is a result of US Customs regulations which are an entirely different set of laws.
With those two ideas in mind, the answer to your question is that balisong knives ARE considered switchblades in Oregon. That means that you may legally carry one as long as it is NOT concealed.
The definition of "concealed" varies from state-to-state. In Oregon, a knife is "not concealed" if any part of the knife is visible or if it is carried in an obvious knife sheath which is not, itself, concealed and which is worn conventionally (e.g. hanging from one's belt, around one's neck, etc.). Again, because of the very permissive tone that our Constitution sets, Oregon courts have taken a very permissive view of what is not concealed.
Oregon was one of the first states in the Union to issue qualified citizens Concealed HANDGUN Licenses. Handgun is the key word. Oregon's CHL only applies to handguns. Having an Oregon CHL does not afford you any more options for knife carry.
