Building a taxonomy in SharePoint 2010 can be a fantastic way to improve content findability and enhance search results using tags from a controlled vocabulary. However, even the best tags can sometimes go awry, and have to be removed from use. But wait! Don't delete those out of date terms from your Term Store taxonomy. Deprecate them instead. Here's how.
By deprecating terms, a clear record is left of the previous use of the tag, while preventing its further use when it is no longer applicable.
Editor's Note: Mike has other helpful videos for managing your SharePoint taxonomy: