You must have the Manage Lists permission level to create columns for lists or libraries. Specify whether you want the term set to be Closed or Open.If a term set is closed, then users cannot add new terms to it when they are updating the value for a Managed Metadata column bound to this term set, and the term set can be updated only by individuals with permission to update managed metadata.When a the user begins typing a value into a Managed Metadata field, it displays all terms in the associated term set that begin with the characters the user has typed.The name of the term set and the term's position in the hierarchy can be indicated along with the term itself, which can help users select the appropriate term.If you clear the check box, then this term set will not be visible to most users.If the term set is still in development, or is not otherwise ready for use, you might want to clear the check box. Do this if you want several words or phrases with the same meaning to be treated as a single entity for the purposes of metadata management.
You must have the Manage Lists permission level to create columns for lists or libraries. If there is not an existing term set that you want to use, you can also create a new term set for a new Managed Metadata column.
For example, you can write a startup script that gets the metadata key/value pair for an instance's external IP and use that IP in your script to set up a database.
Since the default metadata keys are the same on every instance, you can reuse your script without having to update it for each instance.
Your instance automatically has access to the metadata server API without any additional authorization.
The metadata server is particularly useful when used in combination with startup and shutdown scripts because you can use the metadata server to programmatically get unique information about an instance, without additional authorization.If the term set has been configured to be open, and the Managed Metadata column for it allows fill-in values, users may have the option to add a new term to the term set.