Thanks for the reply. I guess the two definitions stand alone, rather than interpreting the second one by the first.

One reason I asked that question was that I encountered a rather cocky gun store employee who was showing off his Microtech OTF knife from behind the counter. When I questioned him about it, he used that very argument to claim that his knife was a "tool", rather than a switchblade knife. He also mistakenly claimed that anything with a blade less than four inches was not considered a knife.