With proper planning, leveraging Managed Metadata in SharePoint 2010 can be one of the best decisions your organization has made. Without recognizing the limitations, it could easily become one of the worst. This session will walk though the benefits and pitfalls of utilizing Managed Metadata within your environments for both your end-users and administrators. From InfoPath, Search, and Content Type organization, Managed Metadata is far-reaching and will impact every part of your environment once enabled.
18. Global Local
Managed Via Central Administration Local site/column
settings
Managed By Users with rights to the Site collection
Metadata Service administrators and site
Application in Central owners
Administration
Available To All sites collections in a The site collection where
web application they were created
associated with a given
Metadata Service Proxy
Andew Connell - SharePoint 2010 Managed Metadata - Global vs. Local Term Sets