Managed Metadata is one of the new features in SharePoint Server 2010. When you create a simple team website and you want to create a new column with the information type “Managed Metadata”, you may see the information “The required feature is not enabled for this column type” in the Term Set Settings.
Cool information, but which required feature? A little more information, please!
The missing feature is a site collection feature, found in “FEATURES\TaxonomyFieldAdded”. The title of the feature is “Register taxonomy site wide field added event receiver” and the ID of this feature is “73EF14B1-13A9-416b-A9B5-ECECA2B0604C”. And, it’s a hidden feature!
So, to activate this feature, you need to do this on the console of one of your SharePoint machines. Use STSADM to activate the feature or a SharePoint 2010 Management Shell and execute
Enable-SPFeature -id “73ef14b1-13a9-416b-a9b5-ececa2b0604c” -Url <Site-Url>
With this feature activated, you are able to select a managed term set in your new field.