I'd not take it apart, unless it's already coming apart. The axial lock mechanism is complex (see the patent drawings in 2nd link below), and putting it back together and getting the friction set right for opening/closing is temperamental, after which it needs to be loctited after adjusting to hold the correct adjustment and prevent it from coming apart again. It's DOABLE, but there's a real risk of it never being the same again after disassembly & reassembly. I have a few of the original Paul Knives (2P, 2PW, 2PM) from Gerber, as well as the later Series II, Model 2 version introduced in the '90s and later, smaller versions from Lone Wolf. I 'tinkered' with the lock on a couple of my later Series II, Model 2 versions; but in retrospect, I consider myself lucky I was able to get it back together and keep it functional after doing so.
http://www.dougritter.com/Paul_Poehlmann.htm
http://www.dougritter.com/pp/pic11348.htm
If the lock on yours is only a bit stiff, I'd instead focus on perhaps flushing it out with WD-40 or similar while exercising the pivot & lock button, just to eliminate or reduce the possibility of dirt/grit or old gummy oil making the lock sticky. I'd not attempt taking it apart unless the opposite were happening, with the lock getting excessively loose or working itself apart altogether.
David