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It is a bad idea to rely on it in any sense for protection, unless you are mentally and physically prepared to use it.

The best option is always to run if you can. Everyone loses in a knife fight.

Unless you are trained in knife combat unlikely you'll be able to use it effectively and risk your knife being against you by the attacker.

Yup, the laws around knife possession/self defense are much worse than many other things, at least in the US. As the OP mentioned running is a better choice and only if no options existed should you even consider it.

(not a lawyer)

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