Before peeing: When a man really has to go pee and a drop of piss forms at the tip of the penis. He really has to go.
After peeing: When a man pisses and finishes up quickly, by the time he zips up, the last few drops of urine might not have left the urethra, so he might get his boxers a few drops of pee or so.

Could also deal with semen instead of pee. Pre-cum before or remaining cum afterwards can cause leaky dick.
Ahh dude I really gotta go, I got leaky dick! I just wiped off a lil piss from my dick! Hurry!!
by I M A Dogg November 30, 2007
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When a hot woman walks by and makes your Dick leak a little bit.
That beatch is so hot, she's Leaky Dick Material.

Damn, that woman that just walked by made my dick leak!
by mjh79 December 15, 2009
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