When your not in a relationship and your available, e.g. the dating game and your waiting to catch a 'fish'. If one has been unlucky in love you could say that he/she should maybe get better or more 'bait'. Created during a Go Fish game.
When a less capable co-worker or incompetent manager tries to talk to a more competent colleague in a casual way about emerging projects or technologies, only to later pass those ideas off as his own.
"Remember, that great idea you were talking to Lil'e about? Well, he's selling it to BigE as his own."