In some situations, such as metadata inheritance from web properties, you’ll want to set the default value of a field from code. Because the DefaultValue property of a SPField is a string, you will need to know the correct format to set the value of a Managed Metadata column. The easiest way to retreive this [...]
When you don’t see the Term Store Management option in your site collection settings: A hidden web application feature is probably not activated. You can activate it through PowerShell or stsadm: Enable-SPFeature -id “73EF14B1-13A9-416b-A9B5-ECECA2B0604C” -Url <Site-URL> stsadm -o activatefeature -id 73EF14B1-13A9-416b-A9B5-ECECA2B0604C -url http://<url> -force Bookmark to:web design