Managed Metadata column on a SharePoint 2010 list does not display values added from term store

Symptoms

Users are not able to see the values in a Managed Metadata

column on a SharePoint list.The only users who can view the

 metadata values are 'Site Collection Administrators'and any

 user who was given the permissions from the 

'Policy for Web Application' page in Central Administration.

Additionally, users with 'Contribute' or 'Full Controll' permissions

are able to see the values on 'editform.aspx' page. 

Cause

'NT AUTHORITY\Authenticated Users' is removed from

'People and Groups' list for the site collection on a classic-mode

web application. This issue can also occur if 

'All Authenticated Users' is removed from 'People and Groups'

list for the site collection on a classic-mode web application.

Resolution

Browse to 

'http://<URLforSiteCollection>/Lists/TaxonomyHiddenList'

with Site Collection administrator privileges and add the 

following users/groups to the list.For classic web application,

add 'NT AUTHORITY\authenticated users' with 'Read' permissions on List

For claims-based web application, add 'All Authenticated Users' with 

'Read' Permissions on List

Note: 'TaxonomyHiddenList' is a hidden list and is not visible in the UI