Legal departments play a pivotal role in the quality of contracts and contracting processes within an organization. This article reflects on current developments and innovations in contracting practice and their impact on the role of legal professionals and legal departments within organizations. Based on empirical research among legal professionals and legal departments in Dutch legal practice, the article positions contracts and contracting within the legal function of an organization and discusses developments in contract management, automated contract assembly and legal design and their potential impact on the role of legal professionals and legal departments. Finally, areas for future research are identified. Throughout the article, the focus is on large commercial organizations.