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Pretty simple: if someone in the party have enough Lore to identify an item it will be automatically identified, no matter what party member picks-up or holds the item.
It will make inventory management more simple and save time. It's kind of boring to pick-up, transfer, identify (or not!), transfer back, properly store (inside some case or bag) - repeat for every item.
If the picked item keeps "blue" you will know for sure that no one in the party is able to identify it.