Polarization Observables in {gamma}N {yields} K{bar K}N

We explore some of the rich structure of the polarization observables recently developed for processes like {gamma}N {yields} {pi}{pi}N and {gamma}N {yields} K{bar K}N in the framework of a specific model for the latter process. Emphasis is placed on observables that may be accessible at existing facilities in the near future. The sensitivity of the observables to the details of the model indicate that they will be a very useful tool in differentiating between different models for reactions like these. In the framework of a model for {gamma}N {yields} K{bar K}N, we examine the sensitivity of the observables to coupling constants of the {phi}, to the properties of the {Lambda}(1405), and to the existence of the {Theta}{sup +}.