Microelectronics has reached structure sizes of the order of 10nm. Limited by the unavoidable scatter on the atomic scale, the minimal feature sizes are limited and will be reached in the near future. Thus, intensive research is carried out to define atomically precise functional units by means of Chemistry. One the one hand, we will discuss recent advances from our group on molecular two-terminal devices, i.e. molecules adsorbed on metallic substrates contacted with metallic tips of a scanning tunneling microscope. We developed a new platform for functional molecules based on spirobifluorene, that allows to reliably lift a functional group of the molecule away from the conductive substrate in order to protect its functionality. Functionalities realized are fast memristors with a large on-off ratios and molecular motors. On the other hand, we will discuss magnetic molecules in close contact to ferromagnets in order to use the exchange interaction between the molecules and the ferromagnet to realize organic exchange bias.