Another way to create Managed Metadata Termsets is at the Enterprise level. To do this, we take advantage of the new Service Application model in SharePoint 2010. A full discussion of Service Applications is outside the scope of this posting, but in a nutshell think of them as services that can be consumed by any application in any farm that can access them. We can create a Managed Metadata Service Application, and then create Termsets in this Service App that can be used in any site across the enterprise.
Let’s look at how we can set this up:
Ensure the Managed Metadata Web Service is running
Open Central Administration
Go to “System Settings”
Click “Manage Services on Server”
Ensure the Managed Metadata Web Service is started