First, try the simple things....like cleaning it out. Compressed air, Q-tips, etc. You didn't say what type of locking folder it is.... liner lock, lock back, etc. But with the latter that is carried in a pocket, lint, gunk, and/or crud will work it's way into the locking area and prevent the mechanism from operating. Should cleaning it out not work, you might have a more serious problem such as a round off locking lug, or a worn out lock notch.
Unless a folder has worn/broken parts, a good cleaning is generally all that's needed.
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