  We study the potential of $B\to K^{(*)} \ell^+\ell^-$ decays as tests of the
standard model. After discussing the reliability of theoretical predictions for
the hadronic matrix elements involved, we examine the impact of different new
physics scenarios on various observables. We show that the angular information
in \bks together with the dilepton mass distribution can highly constrain new
physics. This is particularly true in the large dilepton mass region, where
reliable predictions for the hadronic matrix elements can be made with
presently available data. We compare the Standard Model predictions with those
of a Two-Higgs doublet model as well as TopColor models, all of which give
distinct signals in this region.
