  The equivalent photon content of polarized and unpolarized nucleons (protons,
neutrons), utilized in Weizs\"acker--Williams approximations, are presented.
For this purpose a new expression for the elastic photon component of a
polarized nucleon is derived. The inelastic photon components are obtained from
the corresponding momentum evolution equations subject to the boundary
conditions of their vanishing at some low momentum scale. The resulting photon
asymmetries, important for estimating cross section asymmetries in photon
induced subprocesses are also presented for some typical relevant momentum
scales.
