Configuring the Content Type Hub

Content Type Syndication is new feature that is part of the Managed Metadata service in SharePoint 2010. It solves a long-standing problem from SharePoint 2007, which is how do I create an enterprise library of content types and synchronize them amongst many different site collections. We often had to design and build solutions to work around this issue in SharePoint 2007, but now we have something that we can use out of the box. It's may not seem super intuitive in terms of setting this little gem up though, so use this document as a guide to get you moving in the right direction.
MOSS 2007
Say for example you have a Site Collection Web Application1 and you have created a series of content types to use. Now, you create Web Application2 and find the necessity to reuse the content types created in Web Application 1. There is no way you could share or reference those content types created in Web Application1 in Web Application2. The only way possible is to create or write an application which would install those content types. This situation is pretty common in large organizations. This can be even considered for exposing base content types you use across multiple web applications in the farm.
SharePoint 2010
SharePoint 2010 now introduces a new feature called Content Type Hubs. Content Type Hub is a central location where you can manage and publish your content types – so now web applications can subscribe to this hub and pull down the published content types from the hub. Even receive updates on the published content types!
Procedure
1) Create the web application and the root site which you want it to be the Hub
For eg:- http://avachn8easd001:22222/
2) Now open the Central Administration, Click the Application Management. Under Service Applications, Click
the Manage Service Applications
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3) Select the Managed Metadata Service and then Click properties as shown below
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4) You will get one Text box under the Content Type hub, Enter the URL of the Web App which you created in the first step [This Site Collection will acts as Content Type hub]
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5) Now select the Managed Metadata Service Connection, and then click Properties as shown below
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6) check the box of Consumes Content Types from Content Type gallery at [Your Web App which we configured in previous step]
This is for we explicitly tell to consume content types from the hub.
7) Now, go to our content type hub site [which created in first step], Go to Site Actions and then Site Settings. Under Galleries click on Site Content Types, you will find default Content Type Available.
8) Click on any Content Type where you can see Manage content type publishing option or else create a new Content Type by clicking Create option [Recommended to create a new one to get clear idea]
9) Click the Manage content type publishing and Check the Publish Radio button and say OK.
10) This will publish the content types
In order to receive the published content types immediately, you can go and run two timer jobs immediately:
1) Content Type Hub
2) Content Type Subscriber (of the web application which is going to receive the content types updates)
Published Content Types
After running the timer jobs, the content types should be published. Go to Site Settings | Site Collection Administration | Content Type Publishing. Check the Refresh all Published Content types on next update and Say OK
Remember, as long as the Web Application use the same Metadata Service Application the content type hub is using, it can receive the content types from the hub.
To Verify
1) Create a Site collection of same or different Web Application
2) Go to the Site Actions -> Site Settings. Under the Galleries click the Site Content Types you will be finding the Site Content type which we created in above Site Collection.
The First Site Collection [Content Type Hub]
The different Site Collection under different Web App, able to see the same Content Type
following are some other great posts on content hub
Content Type Hub FAQ and Limitations
Web Templates and Cotent Type Publishing
Content Type Hub - Publishing and Subscribing to Content Types Programatically (C# Code)

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