When companions join the party, if they have less experience than the main character that asks them to join/rejoin, they get an experience boost to match. One of the bonuses is an extra ability point when levelling, but it is not retroactive, so this talent is best taken at character creation. If both characters take that talent, you can not recruit any companions or henchmen. The Lone Wolf talent gives some bonuses to a main character, but reduces the maximum party size by one. After clicking the button, the cursor changes to an identifying glass, and you can click on unidentified items in the character's inventory list to get a conformation window stating the cost of doing so.
In the trade window, there is an 'Identify Item' (magnifying glass) button at the bottom, to the right of the trade button (checkmark) and repair button (hammer).