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I know nothing about knives. Is this a good buy
It has a decent steel, uses an emerson style wave feature by the look of it and can be deployed with the flipper. I think its a decent buy for the money.
Depends on what you want to use it for. 154CM steel is one of the best before you start to get into the powdered steel knives that start around $100. But this knife has a very distinctive look and a titanium scale. Pay attention to the size though and compare what a 9" knife looks like compared to something you have like a kitchen knife. This knife would be big for me, but average to others. Bigger knife = more material = more expensive.
If you like the look, I don't know of anything that looks like it and I'd say go for it. If the look is not so important then I think there are better options for the money. You could go on Amazon and search for "S30V knife" which is a good entry level powdered steel if you want a premium steel knife. Personally, the 154CM steel on this knife is more than enough for my everyday use of a knife.
Is the wave feature licensed from Emerson?
I would say no. Largely because I don't like the structure, from a practical standpoint. All the angles and holes suggest that it would collect dust and debris from my pocket and get hung on lots of things that it is near. 154 is not a great steel. (CPM154 is better.) It is not a bad steel. It ranks above the xCryMoV series. It ranks above AUS-x.
A lot of your answer lies in what you want to do with it. A sturdy inexpensive EDC? Consider the RAT-1, Kershaw cryo in D2 with G10 scales, the Cutjack, a Bestech in D2. For a gentlemanly folder, the Gent is actually a good choice with very good materials. It might be available here. (It's a collab with FF.) If you want a huge scare the women thing, look at the AD-10. Or the Ka-Bar Mule. Tiny knives? I have a Spyderco Ladybug hanging on my key ring. One of my favorites, (and I have many) is the Spyderco PM2 in S35VN.
Don't simply buy a knife because it has a certain steel. Heat treatment is a critical factor in blade performance. Buying from a reputable company will get you good HT. Buying from a customer knife maker will get you excellent HT (read higher HRC.) Blade geometry is important. If you are meaning to slice stuff all the time, then look for a hollow grind.
In conclusion, I think that this would be a very bad knife for you to start with. If I were a collector and had a display method (other than opening a drawer and rooting around in it), I believe that I would buy this. I really like the looks, even tho I seriously question it's practicality.
While I don't own any Rikes, I have handled a few and read a lot of reviews. They make very good knives. You can be sure that this is mechanically sound.
I very much doubt it. I've seen a few wave knives coming out recently. I wonder if the emerson patent has run out?
The patent ended in 2017 but I believe they still have a trademark in effect for calling it "wave". Cold Steel has being selling knives that wave for a while but the were never called wave. Not sure if their design was different enough with the thumb disk(it is in my opinion since the disk waves or uses your thumb to open) or if they are just bigger and willing to fight in court. I remember hearing them sending lawyers after other knifemakers using the term "San Mai" which is definitely not something they invented.