Deeper insight into the structure formation of baryons is obtained by exploring hyperons via electromagnetic probes and by comparison to the results for nucleons. On the experimental side, the analysis of hyperons provides challenges and opportunities: Only the timelike form factors are easily accessible, but the self-analyzing weak decays contain detailed spin information. To unravel the structure information from timelike data requires close collaboration between experiment and theory. Additional insights can be obtained by comparing the hyperon production and decays from elementary processes and heavy-ion collisions. This workshop will bring together experts on strangeness production, hyperon analyses, electron-nucleon scattering, hadronic coupled-channel approaches, dispersion theory, quark-gluon approaches and lattice QCD. A collaborative effort will be crucial to obtain a more profound picture of the structure of baryons.