The process of being taken, schooled, taught a lesson or having something stolen from oneself in a suave or debonair fashion by a person named Jake. This usually relates to interactions with females and other social activities but can also pertain to video games, sports, an several categories of work/employment.
Not to be confused with hijacked which mainly correlates to the above listed items and a person bearing the name Jack.
"Hey, that girl is giving me the look; I think i might go and talk to her"
"Better hurry up man, I saw Jake around here and you don't want to get Hi-Jaked, it keeps happening every time one of those Jakes shows up"
To be burned, dissed, owned, pwnd, or otherwise shown the truth by means of one named or nicknamed Jake. This includes any and all Jakes around the world, including foreign language dialects such as Jakob, Yakob, Yakobeem, or Yakobemish. You will know you have been jake-ified when a Jake corrects your ignorance or ineptitude with an extremely comedic statement delivered with impeccable timing usually in a large social setting.
David- "You know the main export of Belize is timber"
Jake -"Actually that used to be true but now the main export is sugar and accounts for over half of all Belize's exports......bitch!!!"
(Laughter abounds at the bar where David was just jake-ified)