If you are giving the knife to someone that isn't that into knives (because not everyone out there takes pleasure in reading / posting on knife forums on a Friday night....) then I would suggest a one of the many Swiss Army knives as others on hear have mentioned
If you want to give someone an actual EDC knife or if the person enjoy knives a little more, then here are some suggestions (good value for the money in my opinion):
1. Buck Vantage (comes large or small version). Here is a link to the slightly larger version
http://www2.knifecenter.com/item/BU345BKS/buck-vantage-select-large-linerlock
2. SOG Sogzilla (great thin profile / light knife that has a nice pocket clip that rides deep. You won't even know you are carrying this little knife and for the price won't mind tearing it up a little.
http://www2.knifecenter.com/item/SOGSP01/sog-sogzilla-small-folding-knife-3
3. Buck Metro This is an awesome key chain knife / bottle opener. I have one of these and it can take a real beating. It comes in many colors (for men or women)
http://www2.knifecenter.com/item/BU759BK/buck-black-metro-knife-1-1-8-inch-blade
4. Buck Stockman This is a good old school (Old Timer) pocket knife with 3 blades.
http://www2.knifecenter.com/item/BU371BRW/buck-knives-stockman-w-three-blades-
5. Boker Magnum Duke Damascus Blade In my opinion, this is one of the nicest looking gentleman's pocket knife for under $27. It is small, unintimidating and very attractive. It is the kind of knife you slip into your suite pocket when at a classy work function, etc. Hard to beat the look for the price.
http://www2.knifecenter.com/item/BO01MB946DAM/boker-magnum-duke-2-5-inch-damascus
6. Boker Plus Subcome If someone likes knives, they will like this little knife. it could go on a key chain or in your pocket daily. It is a small / big knife. It is very light, small, compact, easy to hold and has a great little blade. I challenge you to find a knife this small that still feels this big in your hand.
http://www2.knifecenter.com/item/BO589CAMO/boker-plus-chad-los-banos-subcom
7. Leatherman Squirt Great little key chain multi-tool....
http://www2.knifecenter.com/kc_new/store_store.html?ttl=Leatherman Squirt&cat=lm&k=squirt&
8. I've seen people mention the Ka-Bar Dozer (great little knife for the money). Also, check out the
KA-BAR MULE. It is, in my opinion, the heavy duty folding work knife that size. If someone that camps or wants a heavy duty folding work knife as a back up to their fixed blade, check this knife out.... great gift for that purpose.
http://www2.knifecenter.com/item/KA3062/ka-bar-mule-folding-knife-4-inch-blade
Also, check out Columbia River (CRKT) on one of the knife sites such as knifecenter.com As a brand, Columbia River offers an insane amount of knives and keychain tools for under $30
NOTE: I've only suggested knives above that I personally own, so I am at least giving you suggestions from personal experience as well.