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The J\"ulich-Bonn coupled-channel framework is extended to $K^+\Lambda$photoproduction. The spectrum of nucleon and $\Delta$ resonances is extractedfrom simultaneous fits to several pion-induced reactions in addition to pion,eta and $K^+\Lambda$ photoproduction off the proton. More than 40,000 datapoints up to a center-of-mass energy of E$\sim$2.3 GeV including recentlymeasured double-polarization observables are analyzed. The influence of the$\gamma p\to K^+\Lambda$ channel on the extracted resonance parameters and theappearance of states not seen in other channels is investigated. TheJ\"ulich-Bonn model includes effective three-body channels and guaranteesunitarity and analyticity, which is a prerequisite for a reliable determinationof the resonance spectrum in terms of poles and residues.

The impact of $\mathbf{K^+\Lambda}$ photoproduction on the resonance spectrum