The cutting tool, or folding scissors, has first and second knife blades and first and second handles, each of the first and second knife blades and first and second handles being positionable relative to one another. The knife blades and handles effect at least a scissors cutting function in at least one open position of the tool. In particular, the first and second knife blades and the first and second handles effect the scissors cutting function in each of a plurality of open positions of the tool. The tool also has a locking assembly that locks the first knife blade and first handle in at least one first position and that locks the second knife blade and the second handle in at least one second position, independently of the first knife blade and first handle. Combinations of the first and second positions respectively define the open positions of the tool. For multiple open positions the locking assembly locks the first and second knife blades and the first and second handles in different first and second positions.