The possibility to construct and parametrize the nonbonded interactions in atomistic force fields based on the valence electron structure of molecules is explored in this paper. Three different charge distribution models using simple valence electron based potential functions are introduced and compared. It is shown that the three models can be constructed such that they only require one adjustable parameter for the electrostatic potential of a molecule. The accuracy of the electrostatic potential is evaluated for the three models and compared to population-derived charges and higher order multipole moments for a set of 12 small molecules. Furthermore the accuracy and parametrization of the interaction energies of the three models is evaluated based on ab initio intermolecular interaction energies. It is shown that the valence electron potential models provide systematic advantages over conventional point charge models for the calculation of intermolecular interaction energies even with the very simple potential functions used here.