Output parent in hierarchial taxonomy

I wonder how I output a link (or term) for the parent in a hierarchial taxonomy? The taxonomy I’ve created is identical to categories, but the normally used for outputting the category parent doesn’t work.

I’m on Twentyten and the functionality I’m looking for is for the user that is on a custom post type (in my case a product) to be able to “go up one level” or back to the index/archive page of the category the product belongs.

Thanks in advance,
George