Benchmade has a reputation for having really sharp knives out of the box.
As the other posters said, steel makes the difference. When buying a brand name, you're buying a design you like but, most importantly, you're showing faith that their process for selecting and treating steel is going to be of a good value.
Typically, stainless knives are used because of their resistance to corrosion (and they're pretty). The tradeoff is that stainless isn't particularly hard in comparison to high-carbon steels, and to take and hold an edge, the steel has to be hard.
Most of us think of all steel as "hard". It IS, but some steels are harder than others. Think of it like this. Try and "sharpen" a piece of styrofoam and then sharpen a piece of plastic. The plastic sharpens a lot better because it's strong enough not to deform as it takes an edge. Same thing with steel. If it's hard, it can withstand taking an edge and holding it in abrasion.
That's overly simplistic, I admit, but it's reasonaby accurate.
A trade off to a steel being hard is that hardness generally brings brittleness. The knife may take and hold a wonderful edge, but it could chip or break easily.
Some of the best and sharpest knives you'll see are made out of old metal files. File steel is REALLY hard, and it's a booger to put an edge on one. On the other hand, it will hold that edge way better than a stainless knife. Just don't go prying with it.
Oh, and just to throw in a curve, not only do you have to look at grades of steel, but you also have to look at hardness and HOW it was hardened. D2 is a tool steel that can be dead soft, into the 60's Rockwell (VERY hard for a knife), somewhere in between, or case hardened (just hard on the surface of the blade).
Most brand name knives will be just fine for general duty. If you have to bet your life on a knife, though, it's worth putting more investigation and investment into.
I find Benchmade and Spyderco to inhabit my pocket more than about any other knife. I hear Cold Steel is really good, too (been around forever). And, even though it may be a fluke, I've carried a "no name" tanto for about 15 years as a sheath knife. Whatever steel is in it, it's great. It's razor sharp and stays that way no matter what I seem to cut.
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