If you got the below error Message while trying to create a Managed Metadata column in your list in the particular site collection.
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Solution:
Run the below powershell command in the sharepoint server 2010.
Enable-SPFeature -Identity 73EF14B1-13A9-416b-A9B5-ECECA2B0604C -Url <URL to your Site Collection>
Example:
Enable-SPFeature -Identity 73EF14B1-13A9-416b-A9B5-ECECA2B0604C -Url http://aurramu.blogspot.com/
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Solution:
Run the below powershell command in the sharepoint server 2010.
Enable-SPFeature -Identity 73EF14B1-13A9-416b-A9B5-ECECA2B0604C -Url <URL to your Site Collection>
Example:
Enable-SPFeature -Identity 73EF14B1-13A9-416b-A9B5-ECECA2B0604C -Url http://aurramu.blogspot.com/