Albert runs a business which has a turnover of more than $1m. It is profitable and definitely has good long term prospects as an accounting software distributor. Albert decides to register a company, 'MoneyBags Pty Ltd', and to transfer the business into that company, which he then plans to sell. MoneyBags Pty Ltd is sold to an investor who asks that Albert stay on as the director and manager of the company. The investor organises a contract that requires Albert, as part of the purchase of his company, to promise not to compete against the company in any capacity within a 25 kilometre radius of the company's location. Albert is also required to promise that he will not use any of the intellectual property or trade secrets of the company in any other enterprise. Albert signs the agreement. Albert leaves the company after only 6 months employment due to a dispute over his working hours. Albert's wife registers a new company, 'MyBags Pty Ltd' to run an accounting software business, similar to the one that Albert previously established. Albert is employed within the company but is neither a shareholder nor director. The investor in Albert's original company is concerned and threatens to take legal action against both Albert and MyBags Pty Ltd.

Required: With reference to relevant legal principles use the IRAC legal problem-solving approach to advise Albert whether he can rightfully work for MyBags Pty Ltd and what rights the new owner of MoneyBags Pty Ltd may have against Albert?