Quick function to convert a permalink into a term object when inside a custom taxonomy

get_term_object_from_uri

function get_term_object_from_uri($taxonomy) {

	global $wp;
	//get requested uri
	$wp_request = $wp->request;
	//split into array
	$uri_params = explode('/', $wp_request);
	//drop the product id as unnecessary
	$param_total = (count($uri_params)-1);
	unset($uri_params[$param_total]);
	
	//get the new deepest level category
	$param_top_level = $param_total-1;
	$param_slug = $uri_params[$param_top_level];
	
	$param_object = get_term_by( 'slug', $param_slug, $taxonomy );
	return $param_object;

}