Not really - though it is loosely linked to electrical potential.
The formula is empirical - constructed to fit experimental data/known behaviour; the formula is only approximate.
The short-range repulsion is actually due to quantum mechanical effects associated with overlapping electron orbitals (arising from the Pauli exclusion principle) and can't be explained on the basis of simple classical electrical potential.
The long-range attraction arises because of interaction between electrical dipoles, which CAN be explained (with a lot of extra maths) on the basis of simple classical electrical potential.
The formula is empirical - constructed to fit experimental data/known behaviour; the formula is only approximate.
The short-range repulsion is actually due to quantum mechanical effects associated with overlapping electron orbitals (arising from the Pauli exclusion principle) and can't be explained on the basis of simple classical electrical potential.
The long-range attraction arises because of interaction between electrical dipoles, which CAN be explained (with a lot of extra maths) on the basis of simple classical electrical potential.
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according to http://en.wikipedia.org/wiki/Lennard-Jon… it is between two neutral molecules and the attractive and repulsive forces inferred are electrical.