The act of ejaculating and urinating on someone.
Clayton: Dude last night I was in the bathroom and I got Colby Jacked on by Ryan.
Taylor: That's fucking gross.
when your buddy is drunk and sleeping on your couch, you and 3 of your buddies seran wrap him down and then all masturbate onto his face as he wakes up and screams for help but noone comes.
Dude did you hear? The guys Colbyjacked Davis last night.
When your name is Colby and you work for a credit card company and you are supposed to be fixing customer's problems, but instead you jack their entire account up. You jack up their bank accounts and jack up their equipment and jack up their business until they are so pissed off that they cancel.
Damn, I sure Colby Jacked that mofo yesterday when he called in to customer support. Now his shit's all Colby Jacked up and he's irrate and cancelling. Colby sure is a shit face dumb fuck stupid ass.