Description In the last decades a lot of progress has been made in the understanding of the electromagnetic form factors of the nucleons and transition form factors of the nucleon to baryonic resonances. With the upcoming hadron-physics experiments at FAIR this information can be complemented and deeper examined by determining the corresponding quantities for hyperons. Dalitz decays of hyperons into lighter hyperons and a lepton pair provide access to low-energy transition form factors. On the theory side one can use dispersion theory to relate these form factors to the pion vector form factor and pion-hyperon scattering amplitudes. In my talk I will report on these theory developments and point out the prospects of FAIR to improve our knowledge about radiative and Dalitz decays of hyperons.